Corporate News : SAMSUNG Electronics Invests $370 million in Telecommunications Complex(SEOUL, South Korea) - Samsung Electronics Co. (SEC) announced that it completed a $370 million multimedia plant in Kumi, Korea, the second facility in Samsung`s 9.7 million square foot information and communication equipment manufacturing complex there.
The new 3.2 million square foot facility is Samsung`s latest step in its plan to become a top five global manufacturer of multimedia products and systems.
`Samsung recognizes multimedia technology as a key component of our global business strategy,` said Sun-Kwang Kim, senior manager of SEC Corporate Communications. `At Kumi, we expanded production capacity to strengthen our multimedia infrastructure and integrated operations to build synergy among the technologies that compose multimedia products.`
Initial production at Kumi Plant II includes communications goods such as handheld phones (HHPs) and pagers, and office products such as printers, hard disk drives (HDDs) and facsimile machines. Samsung projects 1996 output at the new facility to total US$1.6 billion and combined output at the complex to total US$4.4 billion.
Samsung Electronics will invest an additional $247 million by 1999 to manufacture personal digital assistants (PDAs) and increase production of HHPs until annual output grows from eight million sets in 1996 to 30 million sets in 1999. With these additional products, Samsung projects the new facility will produce US$ 3.7 billion by 1998 and combined output at the complex will total approximately US$7.7 billion in 1998.
Expanded production capacity within the complex enables Kumi Plant I to specialize in telecommunications network hardware, such as switching systems (including cellular systems and private exchanges) and optical fiber cable. Samsung will continue to specialize domestic production facilities; for example, it will dedicate the Stuwon complex to next-generation multimedia products and systems; plants at Kiheung and Onyang to semiconductors; and the Kwangju complex to home appliances.
Samsung Electronics Company, Ltd. (SEC), a $21 billion flagship company of the $87 billion Samsung Group, is a world leader in the electronics sector, with operations in more than 60 countries. The company develops, manufactures and markets telecommunications & information systems, audio and video products, household electronics goods, computers & peripheral products, display products, software tools & semiconductors.
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