Securing Land and Buildings Near Production Headquarters in Seokdae Advanced Industrial Complex
Targeting Operation in Second Half of Next Year... Combined with Plant 1, Annual Production of 30 Million Sets
[Asia Economy Reporter Lee Gwan-joo] Osstem Implant is planning to expand its production facilities to meet the growing demand for its products both domestically and internationally.
On the 9th, Osstem Implant announced that it has secured land and buildings for a new factory within the Seokdae Advanced Industrial Complex in Haeundae-gu, Busan, where its current Production Headquarters and existing factory are located.
The new factory site covers an area of 6,880㎡, and Osstem Implant plans to establish a second factory consisting of three buildings with a total floor area of 13,700㎡.
The second factory will be equipped with over 400 processing machines, enabling an annual production capacity of 13 million implant sets, according to the company. Combined with the output of the existing first factory, the total annual implant production will increase to 30 million sets.
Osstem Implant cited its continuous growth as the reason behind this production facility expansion. As of the third quarter of this year, Osstem Implant's cumulative sales reached 779 billion KRW, a 32.9% increase compared to the same period last year, making it highly likely to achieve annual sales of 1 trillion KRW this year. To meet the surging demand and sales volume, production must increase by more than 20% annually, but the existing infrastructure has limitations, prompting proactive expansion of production facilities.
An Osstem Implant representative stated, "Our goal is to complete equipment installation and administrative procedures flawlessly and begin full-scale product mass production at the second factory starting in the second half of next year." They added, "With the enhanced production capacity of the Busan Production Headquarters, the world's largest implant production base, we expect to provide more stable and proactive product supply and market response."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
