DEUTSCH MOTORS INC.
Previous company name
Darr & Co Co.,Ltd.
Name change date
FINE Ace Technology Co., Ltd. is a Korean-based, publicly quoted company principally engaged in the design and manufacture of factory automation systems. The company was established in 1997 and has its registered head office in Changwon, South Korea.
FINE Ace Technology offers a wide range of automation systems which include line centers and factory automation (FA) systems, automatic tool changers (ATCs), special purpose machine for assembly, agile systems, and polishing machineries.
FINE Ace Technology exports its products to international markets, such as Japan, Malaysia, China and Indonesia. Its major corporate clients include Hyundai Motor Company, KIA Motors Corp, GM Daewoo Auto & Technology Company, Renault Samsung Motors, Hyundai PowerTech, Wia, Doosan Infracore and Hyosung Motors & Machinery Inc.
Revenue declined drastically, as sales fell 50.78% from the previous year due to poor performance in winning new orders. Profitability continued to deteriorate due to a chronically poor cost structure, rising burden of fixed cost stemming from a drastic fall in sales, and amortization. Financial stability improved, as liquidity ratio rose through capital increase with consideration and sell-off of fixed asset, and as it paid off short-term loans. Revenue will likely grow, as it registered as an official partner for the mining damage prevention task force under the Ministry of Commerce, Industry and Energy, and thus is poised to advance into environment pollution prevention business. It added water supply, waste treatment, pollution prevention facilities construction to its business portfolio, and thus will likely increase sales through business diversification, and improve profitability. It has sold off stakes and managerial rights to IMM Networks, and improved financial structure and raised operational funds through repeated capital increase with consideration.
Description and history
Engaged in the design and manufacture of factory automation systems
DEUTSCH & BMW MOTORS INC
US SIC Code
530-19, DAPSIMNI 3-DONG
DONGDAEMUN-GU, SEOUL 130-805
City province or state postal code
Country address: KOREA REPUBLIC OF
Website url: www.deutschmotors.com