Aerotech announces joint venture facility in Korea
New manufacturing and research facility aims to bolster semiconductor and display markets.
Aerotech Inc., is expanding globally through a new manufacturing and research facility in Korea, in partnership with ANI Motion Tech.
Richard Teo, Director for Asia Pacific at Aerotech said that the facility, poised for groundbreaking in March 2024, underscores Aerotech's commitment to reinforcing its global presence and deepening its roots in the Asia Pacific region.
The new facility is strategically located in the Songdo Knowledge Information Industrial Complex, a hub known for its concentration on high-tech, biotechnology, and research industries.
"The primary focus of the facility is the production of precision motion control products and
automation equipment," Teo shared, highlighting the joint venture's aim to cater to the burgeoning needs of the semiconductor and display markets.
This development comes at a critical time for the semiconductor and display industries, both of which are experiencing surges in demand. Teo explained that by localising production, Aerotech aims to enhance supply chain efficiency, reduce lead times, and provide more responsive services to customers in Korea and across the region.
"The increased production capacity will contribute to maintaining and improving product quality, driving innovation, and staying competitive in these dynamic markets," Teo added.
Moreover, the choice of Songdo for the facility, renowned for its smart city initiatives and green, sustainable approach, aligns with Aerotech's vision of fostering environmentally friendly manufacturing practices.
Looking beyond the immediate impacts of the new facility, Teo outlined Aerotech's broader ambitions for the Asia Pacific region. With key industrial trends such as the integration of AI and 5G technologies fueling demand for high-precision motion control products and solutions, Aerotech is optimistic about its business performance in the coming year.
The company anticipates that stabilised inflation rates will boost consumer spending in critical areas like consumer electronics, computing, and communications, further driving demand for Aerotech's products and services.
To navigate these opportunities, Aerotech plans to strengthen existing partnerships and foster new collaborations to address the evolving needs of the market. "Through investment in technology and talents, we aim to meet the most challenging applications in terms of precision and throughout various high-tech industries," Teo stated.
