Mando Corporation

Mando Corporation

Type	Public (KRX: 060980)
Industry	Automotive industry
Founded	September 1, 1962 (1962-09-01)
Headquarters	Pyeongtaek, Gyeonggi-do, South Korea
Area served	Worldwide
Products	Brake, Steering, and Suspension Systems, and Chassis Module
Production output	4 million parts a year
Profit	KRW￦ 2,425 billion (2008)
Employees	6,541 (2008)
Website	Mando.com

The Mando Corporation (Korean: 만도)(KRX:060980)is located in Seoul, Korea and is the largest^{[citation needed]} Korean Original equipment manufacturer and supplier to Hyundai Motor Company It is currently owned and run by the original founding parent company, Halla Group ^[1] (as of March, 2008). It was handed over to Halla by Sunsage B.V, a daughter company of JP Morgan.^[2] Mando Corporation is currently supplying the Korean and the overseas automobile manufacturers, including the Big 3.^{[citation needed]} Mando Corporation's sales turnover is estimated at USD$1.71Billion^{[citation needed]}

Mando has three main areas of business: ^{(MANDO Korea only)}

1. Steering parts
2. Brake parts
3. Suspension parts

Mando has recently opened a joint-venture company with Hella, to produce ABS sensor software algorithm.^{[citation needed]}

As mentioned above, Mando Corporation is primarily into OE sales, and a certain amount of aftermarket parts are available via its aftermarket division sales arm, Meister Inc.

History

Mando America office, Plymouth, Michigan

Mando was created under the original founder of Halla Business Group, Mr. Jeong, In Yeong. A younger brother of Jeong, Ju Yeong (Hyundai Motor Company founder) on the 1st of October, 1962. Initially, the company was named Hyundai International Inc. and changed its name to Mando Machinery Corporation in February 1980. In 1988, Mando opened the Brake System Plant in Pyeongtaek and two years later, opened the Munmak Steering System Plant (currently renamed Wonju operations). By 1995, Mando Machinery had a suspension system plant in Iksan as well as a dedicated R&D center. Mando America Corporation (MAC) was founded in 1996.In 1999, during the financial crisis, Mando was sold to Sunsage and was promptly renamed as Mando Corporation.^{[citation needed]}

See also

• Chung Ju-yung

References

1. ^ "Official Website HALLA Business Group". http://www.halla.com. 
2. ^ "Halla Group to buy back Mando, top parts maker". JoinsMSN. http://article.joinsmsn.com/news/article/article.asp?total_id=3018173&cloc=.