Racine-based Modine Manufacturing Co. has entered into a joing venture with OneGene Inc., a supplier of heat exchangers and electrical components to the South Korean automotive market, to develop and manufacture powertrain cooling modules and components for the South Korean off highway equipment market.
The headquarters of the joint venture will be built on a property adjacent to OneGene’s facility in Chungcheong Buk-Do, South Korea and is expected to begin operations in the summer of 2011.
“The Korean market and the targeted off-highway customers represent a very important piece of Modine Asia’s growing powertrain cooling business,” said Tom Marry, Modine’s regional vice president – Asia & Commercial Products Group. “It is critical to support these customers with local engineering, sales, manufacturing and logistics. Our joint venture with OneGene will accomplish this goal.”
“We are pleased to combine the strengths of our individual organizations to serve the market with exceptional value and customer support, which will be enabled by Modine’s leading technology and product offerings in conjunction with OneGene’s reputation for competitiveness that is built on its expedient and skillful manufacturing capabilities,” said Kwang Ho Park, president and representative director of OneGene. “Our experience working with Modine gives us confidence that the customers will benefit from this venture and that all parties will gain as a result of our efforts.”
