Trade Minister Mark Vaile today highlighted Australia’s credentials
as a quality supplier of automotive parts during a visit to one
of Korea’s largest car manufacturers.
The Ssangyong Motor Company production facility at Pyongtaek, south
of Seoul, sources all its 4WD automatic transmissions from Australian
manufacturer BTR Automotive of Albury.
Ssangyong Motor Company is Korea’s 4th largest car manufacturer
overall and the largest manufacturer of luxury 4WD vehicles, with
annual production of over 150,000 units. The company is growing
strongly through rapidly expanding exports.
During the visit, Mr Vaile emphasised to Ssangyong President, Soh
Jin-Kwan, BTR’s record as a quality transmissions manufacturer and
highlighted Australia’s credentials as a cost-effective supplier
of quality auto parts.
“Australian auto components exports to Korea in 2001 were worth
$334 million, making Korea Australia’s second largest market,” Mr
Vaile said.
“BTR Automotive is currently supplying all of Ssangyong’s 4WD automatic
transmissions in a deal worth $A173 million a year. Ssangyong is
adding new models to its line-up and BTR is keen to maintain its
position as a favoured supplier of components and parts to Ssangyong.
“Ssangyong’s growth is good news for Australia.”
ION Limited, BTR’s new Australian owner, recently announced a commitment
to substantial investment in plant and machinery to support new
product releases which have the potential to create about 300 jobs.
Mr Vaile is in Korea for ministerial trade and economic talks.
Contact: Nicole Guihot 02 6277 7420
NB: Photos covering the Minister’s visit are available.