Hyundai Delegation Sees Six Israeli Suppliers 18-7-11

Hyundai Motors Delegation to Visit Israel Heading Group of Six Main Suppliers to Check Out Reciprocal Procurement from Israeli Factories

HMC is Committed to about $16 Million of Reciprocal Procurement from Israel's Automotive and High-Tech Industries

Industrial Cooperation Authority (ICA) Director General Bina Bar-On: I am certain that HMC will meet its reciprocal procurement obligations. There is no doubt that the visit will create cooperation opportunities that will help it do so.

Zvi Leshem, Director of Special Industrial Cooperation (Automotive): I believe that HMC and its suppliers will find high standard Israeli enterprises. The anticipated cooperation will blaze the trail to other manufacturers in the Far East.

An HMC (Hyundai Motors) delegation is visiting Israel, heading a group of six main suppliers to check out reciprocal procurement from Israeli factories. HMC is committed to about $16 million of reciprocal procurement from Israel's high-tech and automotive industries. The commitment stems, among other things, from the sale of Hyundai vehicles to Israel's Ministry of Defense, and the Government Vehicle Administration, which purchased 8,000 vehicles from 2004-2010.

Some of Hyundai's main suppliers have come to Israel in order to check out the possibility of purchases from Israeli suppliers. The companies coming to Israel are: Hyundai Motors; DaeHan Solution Co.; Mando Corporation; SL Corporation; HwaSeung R&A; INZI AMT Co.; and BorgWaner TS.

The Israeli enterprises that they will visit are: Ravel; Raviv; Ditron; Oman; Supergum; AMS; Fishman Thermo; Brightway; and Engelard. The Israel Export and International Cooperation Institute will hold technology meetings with the Korean companies in order to present Israeli automotive technologies.

Bina Bar-On said, 'We appreciate HMC's readiness to carry out activities in Israel and welcome the efforts of Colmobil's Director of the Vehicle Fleet's Division Oren Elazar and Reciprocal Procurement Consultant Dani Lidai to bring the delegation here.

Zvi Leshem said that he is certain and believes that the technologies and products of Israeli suppliers will make it easy for the guests to set up cooperation.

HMC was founded in 1967 and is the world's fifth largest carmaker and Korea's biggest vehicle manufacturer. In 2010, the company manufactured 3.6 million cars. Hyundai operates in 186 countries and has 75,000 employees.