JEC COMPOSITES MAGAZINE - Issue #43 - September 2008 - 10

COMPANIES COMPANIES Jinbo: a generation of growth in SMC Established by K. N. Hong in South Korea in 1984, Jinbo has four production sites, an R&D centre, and offices in Seoul. It exports most of its production. In 24 years, the company has made a reputation for itself in the market, and the quality of its products is recognized far and wide. Jinbo SMC Company specializes in the manufacture of SMC water tanks, SMC baths, FRP water tanks, chemical tanks, FRP linings and ducts for the construction sector. Four key sectors Over time, Jinbo broadened its sphere of activity, structuring its business into four units around its four main markets (automotive parts, tanks, ceiling and covers). The company has moved into other types of process, although SMC remains its staple activity. Jinbo also produces parts like visibility markers for high-voltage electricity transmission lines, although these represent only a very small fraction of its business. The automotive sector still accounts for most of its business and is expanding the most rapidly. Jinbo produces many different types of part, including spoilers, hardtops, side steps, half-tops, dashboard parts, and more. Its automotive growth is not only in civil applications: in China, Jinbo has won military contracts and is making jeep parts for the Chinese People’s Army. The market is a substantial one with growth potential. The tank sector is also buoyant, with heavy demand in the Asia-Pacific Rim region where Jinbo composite tanks are in widespread use. There is also high demand for this type of application in the Middle East. On the whole, the water sector is an attractive one for composite materials. The business in ceiling materials is more limited, but there is still development potential there, at least in Korea, where Jinbo is working along those lines. Composite ceiling panels are particularly useful in moist environments like those around swimming pools, and their Steady growth Jinbo has grown steadily ever since it was created in 1984. It currently has around 600 employees and sales of more than US$30 million. In the beginning, the company split its business 50/50 between the automotive and tank sectors, but now supplies four main types of products: automotive parts, tanks, ceiling materials, and cover materials. In 2007, 60% of company sales were generated by the automotive sector; 30%, by the tanks and ceiling sectors combined; and 10%, by other miscellaneous applications. The company has always seemed to choose the right strategy or investment, especially where its development in China is concerned. Although it has K. N. HONG, CHAIRMAN, JINBO been working with China for nearly 20 years, the company had no production sites there until seven years ago, when it started rapidly building facilities to keep up with its growth. Jinbo now has three sites in China – in Qingdao, Beijing and Shenyang – that take care of most of its production. The Korean site mostly takes care of assembly and finishing operations. A sample of Jinbo’s products properties are also appreciated in the service industry. The cover materials market appears to be even more limited, but there is a certain demand for treatment-station covers that are lightweight and corrosion resistant. Best quality, ideal construction Since 1984, the company has been acquiring all the credentials it needs to develop and to conquer new markets. It has earned Korean Industrial Standards (KSF4806), ISO 9002, and “Quality Guaranteed Promising SME” (QA-523) certification. The company’s market commitments keep it focused on product development and quality improvement through vigorous R&D. The company’s goals do not stop there, however: it aims to become the world’s best SMC and FRP maker – a target in the mould of Jinbo Chairman K. N. Hong, who has been a driver for the company ever since he founded it. More information: www.fiber-x.com JEC Composites Magazine / No43 September 2008

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JEC COMPOSITES MAGAZINE - Issue #43 - September 2008

Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #43 - September 2008