SOURCE: e-Merging Market Technologies

November 03, 2009 18:37 ET

e-Merging Technologies, LLC and INFAC Corporation to Terminate Relationship

Managing Global Sales and Engineering Activities

DETROIT, MI--(Marketwire - November 3, 2009) - e-Merging Market Technologies, LLC announced today they have terminated their relationship with INFAC Corporation (KSE listed company) effective immediately. Under the relationship which lasted four years, e-Merging Market Technologies had been managing INFAC Corporations offices in North America, Europe, and China and provided the necessary engineering support for mechanical/electronic controls as it relates to the Automobile industry.

The efforts by e-Merging Market Technologies generated approximately $200 million in new global sales revenue over the next 5 years and created a solid foundation for INFAC Corporation to grow with global Automotive OEMs.

"We are very proud of the Sales and Engineering efforts by the e-Merging Market Technologies team to break down barriers that enabled INFAC Corporation to win new sales opportunities in North America, Europe, Australia, China, South Korea, and India. Our technical expertise in driver control mechanisms and our engineering excellence allowed INFAC Corporation to expedite the process of being awarded new programs worldwide with Automotive OEMs," said Orest Iwasiuk, President of e-Merging Market Technologies. e-Merging Market Technologies have over 50 years of combined expertise engineering and manufacturing mechanical cable assemblies, shifter mechanisms, and pedal assembles. It has operations in Europe, China, and North America.

"INFAC Corporation under the direction of Chairman Choi showed great vision in engaging with e-Merging Market Technologies to generate new opportunities with global Automotive OEMs. e-Merging Market Technologies was formed to enable automotive component suppliers like INFAC Corporation to participate in the global markets by breaking down cultural barriers and provide transparency to the Automotive OEMs," continues Orest Iwasiuk. Prior to be President of e-Merging Market Technologies, Orest Iwasiuk was the President of the Teleflex Automotive Group (Kongsberg Automotive).

Infac Corporation of Ansan, Korea is a leading manufacturer of mechanical cables and electronics components for the automotive market. The company operates 7 manufacturing plants in Korea, China, and India. In FY2008, INFAC Corporation reported net sales of 142 billion won. Its major competitors are Dura Automotive, Ningbo Auto Cable Control, Kyung Chang Industrial Corporation, Daedong Systems, and Kongsberg Automotive.

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