Polaris Seawon, a specialized company in automotive air conditioning parts, announced on the 11th that it held a completion ceremony for its third factory (Hwaseong Campus) in Hwaseong-si, Gyeonggi-do, and has officially started operations.
The completion ceremony was attended by key stakeholders including Polaris Seawon CEO Kim Young-kwan, executives and employees of Polaris Office Group affiliates, and Polaris Seawon’s customers. Despite other automotive parts companies facing difficulties due to the prolonged COVID-19 pandemic, Polaris Seawon has continued to invest in production facilities and maintain stable management capabilities, growing alongside its customers.
The company supplies air conditioning parts to end users in complete vehicle and electric vehicle manufacturing, including Hyundai Motor, Kia, GM, Ford, Tesla, Lucid Motors, and Rivian through its customers. It currently holds an order backlog worth approximately 500 billion KRW, maintaining stable performance.
To respond to recent changes in automotive air conditioning systems, Polaris Seawon has additionally expanded its third factory in Hyangnam-eup, Hwaseong-si, Gyeonggi-do, with a land area of 2,977㎡ and a total floor area of 1,804㎡. The company is operating the factory using existing pipe production facilities and plans to fully operate the line with the establishment of a brazing line in preparation for customer quality certification, aiming to significantly increase sales.
Kim Young-kwan, CEO of Polaris Seawon, stated, “With the growth of the eco-friendly vehicle market such as hybrids and electric vehicles, the importance of Integrated Thermal Management Systems (ITMS) is also emerging. We believe that welding (brazing) and pipe processing technologies will become crucial, and thus we completed the third specialized production factory to discover new growth engines.”
He added, “We will establish a foundation for a second leap forward through new growth engines by pioneering new markets.”
Meanwhile, Polaris Seawon has improved its financial structure over the past two years through internal improvements such as cash flow enhancement and quality improvement. Based on stable performance and asset soundness, it has incorporated Polaris Uno and Polaris AI as affiliates, building a diverse business portfolio.
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