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Hanon Systems Inaugurates New Chongqing Site in China

CHONGQING, China, May 23, 2019 – Global automotive supplier Hanon Systems (KS:018880) is today announcing the formal opening of Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd. Establishment of this joint venture was announced by the company in October 2017, and involves a direct partnership with Chongqing Jianshe Motorcycle Co. Ltd. and Chongqing Jianshe Mechanical & Electrical Equipment Co., which are two subsidiary companies of China South Industries Group Corporation (CSGC). A formal inauguration ceremony was held at the site to celebrate the opening. More than 60 people were in attendance including company officials, local dignitaries and plant leadership. “We are proud to stand alongside our partners to witness the official opening of our latest operation in Chongqing,” said Min Sung, representative executive officer of Hanon Systems, in his remarks during the event. “This event underscores the start of a bright future and demonstrates the company’s commitment to support Chinese automakers and global vehicle manufacturers operating in China with locally supplied solutions.” Located in the Banan district, the 38,000 square meter facility will initially supply variable swashplate compressors and heat pump systems to Changan Automobile, a subsidiary of CSGC and one of the top automotive groups in China. Future plans for the operation include the manufacture of heating ventilation and air conditioning (HVAC) modules and powertrain cooling components. Hanon Systems currently operates 15 manufacturing sites across China, which includes non-consolidated joint ventures.