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Million-Dollar Acquisition Strategy to Expand SIMPAC's North American Service Division

Million-Dollar Acquisition Strategy to Expand SIMPAC's North American Service Division
25. August 2020

Troy, MI (August 24, 2020) – SIMPAC America, North American subsidiary of South Korea’s SIMPAC Inc., responds to massive layoffs and furloughs post-COVID-19 by investing over $1M USD towards job opportunities in the United States.

With a headcount of 10 employees across North America, and current projects valued at over $30M USD, SIMPAC America plans to hire 15 employees over the next few years – starting with its new Service Division.

“At SIMPAC, we firmly believe that relationships between the press manufacturer and metal former must go beyond the buy-off. This expansion has been in our pipeline for a little over a year now, and we are proud to officially announce our new Service Division,” states Stephan Robertson, General Manager/VP of Sales & Operations at SIMPAC America. “If anything, COVID-19 has made us stronger as a team, and we have been working tirelessly to reassure the market that we stand by our mission of being accessible while also providing a desirable price | performance ratio.”

Download the full press release below, or read MetalForming Magazine’s full article here, for more details about SIMPAC’s expanding team and new Service Division. For media inquiries, please contact jaime@simpac.co.kr.

SIMPAC America Co. Ltd.

SIMPAC America is the North American division of SIMPAC Inc.; SIMPAC Inc. is renowned for its two divisions, “Presses” (forming systems) and “Metals” (ferroalloy manufacturing), while SIMPAC Industries is prominent in foundry products, industrial machinery, and component production. Both SIMPAC Inc. and SIMPAC Industries are owned by South Korea's SIMPAC Group, under the umbrella of SIMPAC Holdings.

Founded in 1973, SIMPAC holds almost 50% of the market share in its home market of South Korea. Since 2004, over 10 sales and service branches were established in Asia, Europe, the United States and Mexico – marking the company's footprint as a global leader of metal forming technology. With almost 700 employees, SIMPAC Group posted sales close to $540MM USD (480MM Euros) in 2018.

SIMPAC ensures time and cost-efficient production of high-quality, sophisticated products with its extensive production capabilities and state-of-the art machine park. Competitive advantages of SIMPAC's press systems, manufactured exclusively at the company's South Korean plants, include continuous improvements derived from insights of global markets and value-added manufacturing concepts pertaining to SIMPAC Group.

SIMPAC's wide product range includes mechanical, servo, and hydraulic presses along with tandem lines and automation solutions. Customers are acquired from various branches of the metalworking industry (i.e. automotive manufacturers and tier suppliers, home appliances and household goods, furniture and electronics industries, and the military & aerospace industry).