Korean News on 20th Sep. 2018
https://news.joins.com/article/22991562

Overseas News
https://www.prnewswire.com/news-releases/hanon-systems-to-acquire-global-fluid-pressure–controls-business-of-magna-international-inc-300715973.html

 

Have you heard about HANON?
Hanon’s old name was Halla. It changed HCC. Later HVCC. Now Hanon System.
This company is specialized for air conditioning parts. It has been established by Mando Machinery Gunpo Factory and Ford Motor company in 1986.

Hanon’s parts are produced for car manufacturer – Hyndai/Kia and GM, etc.
Their parts are produced and packed in MOBIS/GM package, but also in Hanon packages.
Even the same parts, Hanon price is better than MOBIS brand.

Anyway. Hanon system took over German auto parts business unit of Magna International Inc. The cost is about USD 1.23 billion (1.4 trillion KRW).
The specific business unit is Fluid Pressure & Controls.

Many changes in automotive field in Korea now.