Company Info
Korea Flange Co., Ltd. Business Report FY ended Dec. 2014
Highlights in Recent Years
Financial Overview (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | Rate of change (%) |
Remarks | |
| Sales | 973,043 | 969,217 | 0.4 | - |
| Operating income | 6,653 | 16,652 | (60.0) | - |
| Net income | 2,444 | 9,532 | (74.4) | - |
Contracts
-The Company will supply half shafts for Renault Samsung's QM5 crossover SUV. This is the first time that the company's products have been chosen by Renault Samsung. (From a press release on January 10, 2014)
Subsidiaries
-In June 2008, the Company celebrated the completion of its new plant in Auburn, Alabama, U.S.A. The new facility will manufacture front axles and rear carrier assemblies for both the Sonata and the Santa Fe produced by Hyundai Motor. The plant will also produce drive shaft assemblies for both the successor model (Development code: XMA) to the Kia Sorento and the Hyundai Santa Fe. (From a press release on July 8, 2008)
-In April 2007, the Company invested 7,478.40 million won, and established Seohan Auto USA Corporation to manufacture axle assemblies in the U.S. Korea Flange, which contributed 80 percent of the initial capital. (From a press release on April 6, 2007)
-In March 2007, the Company established a joint venture with NTN, to manufacture and sell a drivetrain product, CVJ (constant velocity joint), in Alabama, USA. The new company, Seohan-NTN Driveshaft USA Corporation, will start operation in February 2008 to supply to a U.S. plant of Hyundai Kia Automotive Group. 51% of the capital, USD 6 million, will be provided by KOFCO Group and 49% will be funded by NTN. 2.5 billion yen sales are targeted for FY2008, which is schemed to be doubled to 5 billion yen in FY2010. The cumulative investment by 2009 will be USD 7 million. (From an article in the Nikkan Jidosha Shimbun on March 1, 2007)
R&D Structure
-The Company has a technical center in Jincheon, Chungcheongbuk-do, Korea.
-In November 2012, the Company transferred its technical research center to Hwasung, Gyeonggi-Do, changing its name to Seohan Technical Center. The facility will be operated jointly with Seohan Industries Co.,Ltd., also a member company of the Seohan Group, and Kamtec Inc. (From a press release, December 18, 2012)
R&D Expenditure (Non-consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | |
| Amount | 3,401 | 4,229 | 4,531 |
| % of Sales | 0.4% | 0.6% | 0.7% |
R&D Activities
-Products for use in new car models to be released by Hyundai Motor and Kia Motors :
| Vehicle model (Development code) |
Status (FY ended in December 31, 2014) |
| Kia Sorento R Facelift (XM F/L) |
The Company is mass producing halfshaft assemblies, knuckles and rear carriers. |
| Hyundai Sonata (LF) |
The Company is mass producing halfshafts. |
| Kia The successor model to the Soul (PS) |
The Company is mass producing halfshafts. |
| Hyundai Avante Hybrid (HD HEV) |
The Company is mass producing halfshafts. |
| Kia Accent for China (RBC) |
The Company is mass producing halfshaft assemblies. |
| Kia Sorento R for U.S. (XMA) |
The Company is mass producing halfshaft assemblies. |
| Hyundai Sonata for U.S. (YFA) |
The Company is mass producing halfshaft assemblies. |
| Kia K3 (YD) |
The Company is mass producing front axles and brake assemblies. |
| Kia Optima (TF) |
The Company is mass producing halfshafts. |
| Kia Optima Facelift (TF F/L) |
The Company is mass producing halfshaft assemblies. |
| Kia The successor model to the K5 (JF) |
The Company provided halfshaft assemblies sample. |
| Hyundai Sonata for North America (QF) |
The Company is mass producing halfshaft assemblies, front & rear axles and brake assemblies. |
| Hyundai Grandeur (HG) |
The Company is mass producing halfshaft assemblies. |
| Hyundai Grandeur facelift (HG F/L) |
The Company is mass producing halfshafts. |
| Hyundai Grandeur Hybrid (HG HEV) |
The Company is mass producing front axles and halfshafts. |
| Kia K7 Hybrid (VG HEV) |
The Company is mass producing front axles and halfshafts. |
| Hyundai Grandeur diesel (HG) |
The Company is mass producing halfshafts. |
| Kia Pride (UB) |
The Company is mass producing halfshaft assemblies. |
| Kia Soul Facelift (AM F/L) |
The Company is mass producing halfshaft assemblies. |
| Kia The successor model to the Sorento (UM) |
THe Company is mass producing halfshaft assemblies and front & rear axles. |
| Hyundai Santa Fe for North America (AN) |
The Company is mass producing halfshaft assemblies, front & rear axles and brake assemblies. |
| Kia The successor model to the Carens (RP) |
The Company is mass producing halfshafts. |
| Hyundai The successor model to the Avante for North America (ADA) |
The Company provided halfshafts sample. |
| Kia Sorento R (XM) |
The Company is mass producing constant velocity joints. |
| Hyundai Tucson ix (LM) |
The Company is mass producing constant velocity joints. |
| Kia Sportage R (SL) |
The Company is mass producing constant velocity joints. |
| Hyundai Santa Fe (DM) |
The Company is mass producing constant velocity joints. |
| Hyundai 「Starex」(TQ) |
The Company is mass producing constant velocity joints. |
| GM Chevrolet Colorado |
The Company is mass producing constant velocity joints. (Via American Axle) |
| Renault Samsung QM5 |
The Company is mass producing halfshaft assemblies. |
| Hyundai Veracruz (EN) |
The Company is mass producing halfshaft assemblies. |
| Kia Sorento R (XM) |
The Company is mass producing knuckles and rear carriers. |
| Hyundai Grand Starex (TQ) |
The Company is mass producing front halfshafts and front axles. |
| Hyundai Accent (RBK) |
The Company is mass producing front axles. |
| Kia Sorento R for U.S. (XMA) |
The Company is mass producing front & rear axles and brake assemblies. |
| Hyundai Santa Fe for U.S. (DMA) |
The Company is mass producing front & rear axles and brake assemblies. |
| Hyundai Sonata for U.S. (YFA) |
The Company is mass producing front & rear axles and brake assemblies. |
| Hyundai Avante for U.S. (MDA) |
The Company is mass producing front axles and brake assemblies. |
| Kia K5 (TF) |
The Company is mass producing front axles and rear carriers. |
| Kia K7 (VG) |
The Company is mass producing front & rear axles and brake assemblies. |
| Hyundai Grandeur (HG) |
The Company is mass producing front axles. |
| Hyundai Santa Fe (DM) |
The Company is mass producing front & rear axles. |
| Hyundai Santa Fe (DM) |
The Company provided halfshafts sample. |
| Hyundai Avante (MD) |
The Company is mass producing front axles. |
| Hyundai Genesis Coupe Facelift (BK F/L) |
The Company is mass producing knuckles and front discs. |
| Hyundai i30 (GD) |
The Company is mass producing front axles. |
| Hyundai Veloster (FS) |
The Company is mass producing knuckles, hubs and discs. |
| Kia K3 (YD) |
The Company is mass producing front axles. |
| Hyundai i15 (HB) |
The Company is mass producing front axles. |
| Hyundai Santa Fe (DM) |
The Company is mass producing front axles and rear carriers. |
| Hyundai Veracruz (EN) |
The Company is mass producing front axles and rear carriers. |
| Hyundai Tucson ix Facelift (LM F/L) |
The Company is mass producing front axles. |
| Kia Sorento R Facelift (XM F/L) |
The Company is mass producing knuckles and rear carriers. |
| Hyundai The successor model to the Veracruz (NC) |
The Company is mass producing front & rear axles. |
| Hyundai Tucson ix Fuel Cell (LM FC) |
The Company is mass producing front axles. |
| Hyundai Grand Starex (TQ) |
The Company is mass producing front axles. |
| Hyundai The successor model to the Genesis Coupe (RK) |
The Company developed knuckles sample. |
| Hyundai Sonata (LF ) |
The Company is mass producing front axles and rear carriers sample. |
| Hyundai Sonata Plug-in Hybrid (LF PHEV) |
The Company is providing front axles and rear carriers sample. |
| Hyundai Sonata Hybrid (LF HEV) |
The Company is providing halfshafts sample. |
| Hyundai Sonata Hybrid (LF HEV) |
The Company is mass producing front axles and rear carriers sample. |
| Kia The successor model to the K7 (YG) |
The Company provided front axles and rear carriers sample. |
| Kia Tucson (TL) |
The Company is mass producing front axles. |
| Kia The successor model to the Sorento U.S. model (UMA) |
The Company provided front & rear axles and brake assemblies sample. |
| Hyundai i40 Facelift (VF F/L) |
The Company is mass producing front axles. |
| Kia The successor model to the K5 (JF) |
The Company is providing front axles and rear carriers sample. |
| Kia JF Hybrid |
The Company provided front axles and rear carriers sample. |
| Kia JF Plug-in Hybrid |
The Company is providing front axles and rear carriers sample. |
| Hyundai Aslan (AG) |
The Company is mass producing front axles. |
| Hyundai The successor model to the Grandeur (IG) |
The Company provided front axles and rear carriers for test cars. |
Capital Expenditure
-In 2015, the Company plans to invest KRW 16.1 billion for facilities and equipment including a new production line to manufacture CV joints.
-In 2014, the Company invested 15.1 billion won to establish a new production line to manufacture half shafts.
Investments outside Korea
-Seohan Auto USA Corporation, the Company's U.S. subsidiary for the production of axle assemblies, will construct a second plant in Alabama, U.S.A. The new factory will have a building area of approximately 10,500 square meters on about 151,800 square meters of land. The facility is expected to be completed by May 2014. (From a press release on January 10, 2014)
Data
Sales (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | |||
| Automotive parts |
CV joints | Export | 138,619 | 144,823 | 107,590 |
| Korea | 68,209 | 72,400 | 53,539 | ||
| Subtotal | 206,828 | 217,223 | 161,129 | ||
| Parts for commercial vehicles (Axle beams, etc.) |
Export | 7,858 | 8,414 | 7,564 | |
| Korea | 11,833 | 10,409 | 9,436 | ||
| Subtotal | 19,691 | 18,822 | 17,000 | ||
| Parts for passenger vehicles (Front axles, etc.) |
Export | 224,258 | 202,201 | 186,773 | |
| Korea | 409,607 | 377,049 | 425,121 | ||
| Subtotal | 633,865 | 579,250 | 611,894 | ||
| Subtotal | Export | 370,735 | 355,438 | 301,927 | |
| Korea | 489,649 | 459,858 | 488,097 | ||
| Subtotal | 860,384 | 815,295 | 790,024 | ||
| Flanges | Export | 12,932 | 20,510 | 42,333 | |
| Korea | 51,008 | 80,354 | 68,270 | ||
| Subtotal | 63,940 | 100,864 | 110,603 | ||
| Industrial machinery | Export | - | - | - | |
| Korea | 14,473 | 17,978 | 18,449 | ||
| Subtotal | 14,473 | 17,978 | 18,449 | ||
| Others | Export | - | - | - | |
| Korea | 34,247 | 35,081 | 35,144 | ||
| Subtotal | 34,247 | 35,081 | 35,144 | ||
| Total | Export | 383,667 | 375,948 | 344,260 | |
| Korea | 589,377 | 593,271 | 609,960 | ||
| Total | 973,044 | 969,217 | 954,220 | ||
Production Capacity/Result (Consolidated) |
(in millions of won) |
| Division | FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 | |||
| Capacity | Result | Capacity | Result | Capacity | Result | |
| Automotive components | 1,085,770 | 851,120 | 1,000,683 | 774,077 | 969,008 | 771,055 |
| Flanges | 98,789 | 70,536 | 97,701 | 78,650 | 121,356 | 95,872 |
| Industrial machinery | 26,366 | 13,974 | 29,886 | 17,334 | 32,334 | 17,784 |
| Total | 1,210,925 | 935,630 | 1,128,270 | 870,061 | 1,122,698 | 884,711 |
Capacity Utilization Rate (Consolidated)
| Division | FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | FY ended Dec. 31, 2012 |
| Automotive components | 81.5% | 81.4% | 79.0% |
| Flanges | 71.4% | 80.5% | 79.0% |
| Industrial machinery | 53.0% | 58.0% | 55.0% |
| Average | 76.0% | 79.0% | 71.0% |
*The utilization rate was calculated by dividing the actual number of operating hours by the maximum number of possible operating hours per year.>>>Financial Data
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