Seah Group celebrates 35th with a name for affiliateSeah Group, one of major steelmakers in Korea, said yesterday that its affiliate Korea Bundy, country leading steel tube producer, will change its name to Seah FS, celebrating its 35th anniversary.
The company will held an event today in Osan, Gyeonggi to announce new vision of the company which is to collect sales of 1.2 trillion won ($1.1 billion) and operating profit of 123 billion won by 2020. Its sales for 2013 was 392.5 billion won.
Seah said that “FS” refers to Fluid Systems and is seeking to expand company’s portfolio from steel tubes to modules and other hydraulic products. Steel tubes are used on refrigerators, air-conditioners, other consumer electronic appliances, and for the brakes and fuel pipe of automobiles.