- Business
- SIMPAC Inc. (009160.KS) manufactures and markets mechanical, hydraulic, and servo press machines; automation systems; tandem press lines; coil handling equipment; ferroalloys including high-purity ferrosilicon; rolls; and polyurethane screens worldwide. The company serves the automotive, electronics, home appliance, furniture, military, and aerospace industries, with primary customers including Hyundai Motor Group and other tier-one suppliers. Founded in 1973 and headquartered in Incheon, South Korea, SIMPAC Inc. operates as a subsidiary of Simpac Holdings Co., Ltd. and maintains a global network through subsidiaries such as SIMPAC America in Michigan, SIMPAC Czech in Central Europe, and ferroalloy production via affiliates like SIMPAC Metal. In 2024, the company acquired KDA, a key parts supplier for North American vehicles, and Dongbu Steel, a steel scrap processor, to bolster its materials and mobility segments; it also formed a 50-50 joint venture, SILBRAKOR, with Brazil's RIMA Industrial SA, investing $10 million for high-purity ferrosilicon production targeting electric vehicle and renewable energy markets. As of October 2025, Simpac Holdings agreed to acquire the remaining 47.6% stake in SIMPAC Inc. through a reverse merger valued at approximately KRW 150 billion, pending shareholder approval, with the surviving entity to be renamed SIMPAC Co., Ltd.