Samkwang will invest in Reynosa approximately 15 million dollars in a new plant
The Korean company Samkwang, which began operations in Reynosa, Tamaulipas in 2005, will invest approximately 15 million dollars in the construction of a new operations plant, which will generate 500 new jobs.
This year, Samkwang is planning to purchase land within the Villa Florida Park. It will be around 45,000 square feet, this expansion will allow it to have greater production capacity by being able to have a greater capacity to meet the demand of its customers.
“Currently, we have many opportunities with different clients and in different countries that are interested in bringing more business. I want to be successful in this area, in this community, with my employees. I will continue to lead my people to do more business; in this way, the company and the employees grow together. My dream is for everyone to be happy, for everyone to make more money,” said Mark Kim, president of Samkwang.
They no longer have space available at the current operating facility in Samkwang, so he will buy land and build his own building.
This expansion project will generate more than 500 job opportunities and the approximate investment is estimated at 15 million dollars.
With this expansion, Samkwang will buy more molding machinery with a capacity of 180 to 650 tons and two 750-ton double-shot molding machines.
“My investment plan is to get injection molding machines, about 60. I’m trying to get 100 injection molding machines, probably in three years,” explained Mark Kim.
In the last year, Samkwang has been testing 12 injection molding machines and in 2022 it is close to signing the contract to acquire six more.
About the production capacity that this will allow the company, Kim explained that this depends on the part (product), but it will be close to a million parts.
“I am testing several machines and it could have a capacity of six million parts a year. We currently have several business options. We got very promising business with Stanley Black & Decker, they’re adding more part numbers, more business, but also other customers like Ametek, Bisell and Johnson Controls. We are in very good shape to grow with customers,” he said.
Stanley Black & Decker is one of Samkwang’s main clients; they also make products for Johnson Controls; This company sells parts for security tags. Tryco, located in Matamoros, is another of their clients, they produce windshield wipers. They also work with the Inteva plant, located in the state of Puebla.
A MESSAGE TO INVESTORS
Mark Kim explained that when he arrived in Tamaulipas he received support from the McAllen Economic Development Corporation (MEDC), they provided support for the selection of the site and provided him with the necessary advice for the location of the plant, installation processes, suppliers and customers, to name a few.
“People are worried about security, yes, maybe it is a problem, but in all parts of the world there are issues like that. I arrived in Reynosa between 2005-2006, and to this day I cross from the US to Mexico and I have not had any problems; people should know that Reynosa is a good place to invest, a good place to locate clients, a good place to walk alongside this community,” Kim stressed.
THE BEGINNING OF OPERATIONS
In an interview for Mexico Industry Tamaulipas, Mark Kim shared that this is a family business, his father started it in 1974.
“He invested a lot, not only in machines but also in the people to train them,” he said.
“When Samkwang first started working with the Nokia company, we invested a lot of money and a lot of training courses so that the engineers and technicians understood the programs, as well as how best to understand the company and the customer,” he said. .
When Samkwang started operations in Reynosa, it focused its production on tooling, plastic, pad printing and laser painting, two-shot molding, and decoration.
Speaking of human talent, Mark Kim commented that he likes the workers in this area, “many of the employees who work in this company have more than five years of experience, they are loyal and honorable employees who understand the needs of the company. All employees work in a good environment, there are no security problems; Samkwang provides a clean and safe environment for all of its employees.”
Its worldwide presence covers countries such as Korea, where it originates from, but it also has operating plants in China and Vietnam. Currently, the products manufactured at the Reynosa plant are exported directly to North America, North Korea, China, and Europe.