EcoPlastic continues its growth in the second half of the year following strong performance in the first half.
EcoPlastic announced on the 26th that it recorded sales exceeding 100 billion KRW in both July and August. Last month, sales also showed a double-digit growth compared to the same period last year, according to preliminary estimates.
A company representative explained, "Our customers' high-end electric vehicles and premium cars have shown strong sales not only domestically but also overseas," adding, "The growth trend in the North American market is particularly noteworthy." EcoPlastic supplies parts to both domestic and international automobile manufacturers.
Over the past three years, EcoPlastic's sales have increased at an average annual rate of about 15%. The company has sustained growth by supplying parts mainly for luxury vehicle models.
An EcoPlastic official stated, "Despite the third quarter being a traditional off-season for the automotive industry, the supply of our main product, automotive module parts, has increased," and added, "We expect to record the highest sales ever this year due to increased production entering the peak season in the fourth quarter."
He continued, "We are entering a phase where profitability is improving through our own cost reduction efforts," and added, "This trend is expected to continue into next year and the year after."
EcoPlastic plans to continue its growth focusing on various high value-added products such as autonomous driving and lightweight materials for electric vehicles. The company entered the automotive electronics new business last year and has completed product development. Full-scale sales are expected to begin next year.
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