Hwashin Co., Ltd. Business Report FY ended Dec. 2013
Business Highlights
Highlights in recent years
-The Company was awarded a new contract to supply components for the successor model (development code: BA) to the Hyundai i10 sold in Europe. Hwashin's center floors, cowls, front cross members, rear coupled torsion beam axles, fuel tanks, bumpers, and cowl cross bars will be installed on the new model that will be mass produced, starting in September 2013. (From a press release, August 28, 2013)
-The Company was awarded a contract to supply components for the successor model (development code IB) to the Hyundai i20. Hwashin's center floors, cowls, front cross members, rear coupled torsion beam axles, bumpers, and cowl cross bars will be installed on the new model that will be mass-produced, starting in August 2014. (From a press release, August 28, 2013)
<Kia>
-The Company was awarded a new contract to supply front cross members to Kia Motors. These components will be installed on the successor model (development code: UMA) to the Sorento R sold in the U.S. Mass-production of the new vehicle is scheduled to begin in February 2015. Hwashin will produce the front cross members at Hwashin America Corp. Ltd. (From a press release, August 28, 2013)
-The Company was awarded a new contract to supply rear cross member and rear lower arms to Kia Motors. These products will be used on the successor model (development code: UM) to the Sorento R for the Korean market. Mass production of the new vehicle is expected to begin in July 2014. (From a press release, August 28, 2013)
-In September 2012, Hwashin Fabricante de Pecas Automotivas Brasil Ltda., the Company's subsidiary in Brazil, started mass production at is new plant that had been completed in February the same year. The Brazilian facility produces components for the Hyundai HB20 crossover utility vehicle assembled in Brazil. (From a press release, January 28, 2013)
Financial Overview (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | Rate of change (%) |
Remarks | |
| Sales | 1,483,548 | 1,626,052 | (8.8) | Sales breakdown for FY2013 Members: 349,179 million won (23.5%) Arms : 170,682 million won (11.5%) |
| Operating income | 66,366 | 98,944 | (32.9) | - |
| Net income | 1,615 | 24,552 | (93.4) | - |
Contracts
<Hyundai>-The Company was awarded a new contract to supply components for the successor model (development code: BA) to the Hyundai i10 sold in Europe. Hwashin's center floors, cowls, front cross members, rear coupled torsion beam axles, fuel tanks, bumpers, and cowl cross bars will be installed on the new model that will be mass produced, starting in September 2013. (From a press release, August 28, 2013)
-The Company was awarded a contract to supply components for the successor model (development code IB) to the Hyundai i20. Hwashin's center floors, cowls, front cross members, rear coupled torsion beam axles, bumpers, and cowl cross bars will be installed on the new model that will be mass-produced, starting in August 2014. (From a press release, August 28, 2013)
<Kia>
-The Company was awarded a new contract to supply front cross members to Kia Motors. These components will be installed on the successor model (development code: UMA) to the Sorento R sold in the U.S. Mass-production of the new vehicle is scheduled to begin in February 2015. Hwashin will produce the front cross members at Hwashin America Corp. Ltd. (From a press release, August 28, 2013)
-The Company was awarded a new contract to supply rear cross member and rear lower arms to Kia Motors. These products will be used on the successor model (development code: UM) to the Sorento R for the Korean market. Mass production of the new vehicle is expected to begin in July 2014. (From a press release, August 28, 2013)
Developments in Korea
-The Company was selected by the Korean Ministry of Knowledge and Economy as one of the companies for the World Class 300 Project. This Project, which will run until 2020, recognizes leading companies in the world that have potential for extraordinary future growth. The Project also heavily concentrates in investing in these companies. Going forward, 12 organizations such as KOTRA, the Export-Import Bank of Korea, Korea Technology Credit Guarantee Fund, the Small & Medium Business Corporation, and KIPO (Korean Intellectual Property Office) will give support for five years in the areas of R&D, HR and market development, financial aid, and consulting. (From an April 30, 2012 press release)Developments Outside Korea
<Brazil>-In September 2012, Hwashin Fabricante de Pecas Automotivas Brasil Ltda., the Company's subsidiary in Brazil, started mass production at is new plant that had been completed in February the same year. The Brazilian facility produces components for the Hyundai HB20 crossover utility vehicle assembled in Brazil. (From a press release, January 28, 2013)
Awards
-The Company was awarded the Supplier of the Year 2012 from the Hyundai and Kia Group. It has also earned a 5-star rating for its advanced technology. (From a press release, January 28, 2013)R&D
R&D Structure
-In August 1987, the Company established Hwashin Technical Research Center to conduct product designing, calculation and analysis, research on next generation technology, testing, prototype production, and engineering of production lines and dies.
R&D Expenditure (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | FY ended Dec. 31, 2011 | |
| Amount | 23,131 | 15,701 | 17,241 |
| % of Sales | 1.6 | 1.0 | 1.2 |
Models in Which the Company's Products are Used
| Customer | Model (Development code) |
Products | |
| Mass production scheduled to start in Aug. 2016 | Hyundai (China) | The successor model to the Accent (YC) |
Front cross member semi modules Coupled torsion beam axles (CTBAs) |
| Mass production scheduled to start in Jan. 2016 | Kia | The successor model to the K7 (YG) |
Front cross member semi modules |
| Mass production scheduled to start in Dec. 2015 | Hyundai (U.S.A) | The successor model to the Avante (ADA) |
Front cross member semi modules Coupled torsion beam axles (CTBAs) |
| Mass production scheduled to start in Dec. 2015 | Hyundai | The successor model to the Grandeur (IG) |
Front cross member semi modules |
| Mass production scheduled to start in Oct. 2015 | Nissan | I2 | Cowl bar assemblies |
| Mass production scheduled to start in Sep. 2015 | Kia (U.S.A) | The successor model to the K5 (JFA) |
Front cross member semi modules Rear cross members Rear lower arms Upper arms |
| Mass production scheduled to start in Aug. 2015 | Hyundai (India) | Compact SUV (GCI) |
Center floors Cowls Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks Bumpers Cowl cross bars Heat protectors |
| Mass production scheduled to start in Aug. 2015 | Hyundai | The successor model to the Avante (AD) |
Coupled torsion beam axles (CTBAs) |
| Mass production scheduled to start in Apr. 2015 | Kia | The successor model to the K5 (JF) |
Front cross member semi modules |
| Mass production scheduled to start in Feb. 2015 | Kia (U.S.A) | The successor model to the Sorento R (UMA) |
Front cross member semi modules |
| Mass production scheduled to start in Jan. 2015 | Hyundai (China) | The successor model to the YF Sonata (LFC) |
Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks |
| Mass production scheduled to start in Oct. 2014 | Hyundai | CUV for China (GC) |
Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks |
| Mass production scheduled to start in Sep. 2014 | Ford (via Faurecia) |
B515 LHD (Ford EcoSport) |
Center cross bars |
| Mass production scheduled to start in Aug. 2014 | Kia | The successor model to the Sorento R (UM) |
Rear cross members Rear lower arms |
| Mass production scheduled to start in Aug. 2014 | Hyundai | The successor model to the i20 (IB) |
Center floors Cowls Front cross members Coupled torsion beam axles (CTBAs) Bumpers Cowl cross bars |
| Mass production scheduled to start in May 2014 | Hyundai (U.S.A) | The successor model to the YF Sonata (LFA) |
Package trays (rear) Front cross members Rear cross members |
| Mass production scheduled to start in Apr. 2014 | Kia | The successor model to the Soul EV (PS EV) |
Frame assemblies |
| Mar. 2014 | Hyundai | The successor model to the YF Sonata (LF) |
Front cross members Lower arms |
| Jan. 2014 | Nissan | K2 (Project) | Fuel tanks Center cross bars |
| Nov. 2013 | Hyundai | The successor model to the Genesis (DH) |
Rear lower arms |
| Sep. 2013 | Hyundai | The successor model to the i10 (BA) |
Center floors Cowls Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks Bumpers Cowl cross bars |
| Sep. 2013 | Nissan | X11M (Project) | Fuel tanks |
| May 2013 | Hyundai | Starex 4WD (TQ 4WD) |
Front cross members Lower arms |
| May 2013 | Mitsubishi | 4F00 (Project) | Lateral rods |
| May 2013 | Hyundai | Porter 4WD (HR 4WD) |
Front upper arms |
| Apr. 2013 | Hyundai | Tuscon ix facelift (LM F/L) |
Front cross members Lower arms |
| Mar. 2013 | Kia | The successor model to the Soul facelift (PS) |
Coupled torsion beam axles (CTBAs) (2WD) Rear cross members (4WD) |
| Feb. 2013 | Ford (via Faurecia) |
B515 EcoSport | Center cross bars |
| Dec. 2012 | Hyundai | Tucson ix/Fuel cell (LMFC) |
Front cross members |
| Nov. 2012 | Hyundai | Equus facelift (VI F/L) |
Rear cross members |
| Sep. 2012 | Kia | K3 | Coupled torsion beam axles (CTBAs) |
| Apr. 2012 | Kia | Sorento R Facelift (XM F/L) |
Front cross members Rear cross members |
| Mar. 2012 | Kia | K9 | Rear cross members |
| Dec. 2011 | Hyundai | Avante 2 door (JK) |
Coupled torsion beam axles (CTBAs) |
| Dec. 2011 | Kia | Morning EV (TAM-EV) |
Front cross members Motor mounts |
| Oct. 2011 | Kia | Pride | Front cross members Lower arms Coupled torsion beam axles (CTBAs) |
| Aug. 2011 | Holden (via ZF) |
Commodore | Rear lower arms Rear trailing arms |
| Aug. 2011 | Hyundai | Genesis Coupe Facelift | Rear lower arms |
| May 2011 | Kia | Soul Facelift | Coupled torsion beam axles (CTBAs) |
| Dec. 2010 | Hyundai |
Veloster |
Coupled torsion beam axles (CTBAs) |
| Dec. 2010 | Hyundai | Grandeur | Front cross members Lower arms |
| Oct. 2010 | Hyundai | Accent | Front cross members Lower arms Coupled torsion beam axles (CTBAs) |
| Aug. 2010 | Hyundai | Avante | Coupled torsion beam axles (CTBAs) |
| May 2010 | Kia | K5 | Front cross members Lower arms |
| Dec. 2009 | Kia | K7 | Front cross members Lower arms |
| Apr. 2009 | Kia | Sorento R | Front cross members Rear cross members |
| Nov. 2008 | Hyundai | Equus | Rear cross members Rear lower arms |
| Sep. 2008 | Hyundai | YF Sonata | Front cross members Lower arms |
| Sep. 2008 | Hyundai | Tucson ix | Front cross members Lower arms |
| Sep. 2008 | Kia | Soul | Coupled torsion beam axles (CTBAs) |
| Aug. 2008 | Hyundai | Genesis Coupe | Rear lower arms |
| Aug. 2008 | Kia | Forte | Coupled beams |
| May 2008 | Hyundai | Santa Fe The Style | Rear cross members Rear lower arms |
| Dec. 2007 | Hyundai | Genesis | Rear cross members Rear lower arms |
| May 2007 | Hyundai | Starex | Front cross members Lower arms |
| Sep. 2006 | Hyundai | Veracruz | Front cross members |
| Mar. 2006 | Kia | Carens | Front cross members Lower arms |
Technical alliance
| Partner | Country | Area of alliance |
| F. Tech, Inc. | Japan | Die technology for auto parts production |