/24-7PressRelease/ - LONDON, ON, CANADA, January 18, 2008 - Hanwha Living & Creative Corporation ("Hanwha L&C"), one of Korea's largest industrial corporations, announces the groundbreaking of a new manufacturing and distribution plant for its Hanwha Surfaces products to be built at Innovation Park in London, Ontario. The building solidifies Hanwha's presence in North America as one of the leading producers of fine quartz surfaces - via its HanStone product line. The new facility will bring more than 100 new jobs to the London area and construction is scheduled for completion in the summer of 2009. Hanwha intends to add production of its other building materials in North America as a second phase within the next three years.
The $70 million dollar capital investment in a 200-thousand square foot facility in London's Innovation Park represents the first of a two-phase North American expansion plan for Hanwha and their HanStone product line. HanStone is a fine quartz line of surfaces that is used in kitchen countertops, vanities, as well as for commercial applications.
"This is an exciting time for Hanwha," states Woong Jin Choi, President and CEO of the Hanwha L&C Corporation. "With so much of our product making its way to North American consumers, having a more local base places us in a more competitive position and it is the logical next step for Hanwha's global expansion effort."
"We are thrilled to be in partnership with Hanwha L&C," states Anne Marie DeCicco-Best, Mayor of London, Ontario. "Working with Mr. Choi to bring their global corporation to Ontario, not only provides additional jobs, but marks London's increased presence as a manufacturing destination."
In addition to generating approximately 100 new jobs, the new North American facility will expand the HanStone product line, creating an upgraded, more sophisticated product offering.
About HanStone
HanStone is an innovative new product that combines natural quartz, one of nature's hardest materials, with high quality polymer resin and pigment to produce a durable yet luxurious stone surface. Unlike granite and many other surfaces, HanStone is non-porous and requires no sealing. In addition to being even more durable than granite, HanStone is also stain-resistant, heat-resistant and easy to maintain. It has also been tested and certified by the National Sanitation Foundation for Food Safety and Food Contact under the NSF 51 Certification, and is backed by a 10-year limited warranty.
All Hanwha products are GREENGUARD certified, passing strict chemical and microbial tests done by this organization to assure the indoor air-quality safe product for the consumer. For additional information on GREENGUARD, please visit http://www.greenguard.org.
HanStone is currently supplied to retail outlets including Rona and IKEA. For additional information, visit http://www.hanstoneusa.com
About Hanwha Living & Creative Corporation
Hanwha Surfaces is a division of the Hanwha Living & Creative Corporation, a South Korea-based global conglomerate with 30 affiliated companies and more than $30 billion in annual revenues. The company deals in a diverse range on industries including chemicals, plastics, machinery, telecommunications, biotechnology, finance and building materials.
Since 1952, Hanwha has built a reputation as a leading name in providing innovative building materials. Our goal is to provide our clients with what they value most: solutions that achieve a perfect blend of beauty, elegance, quality and functionality. That's Hanwha's promise of timeless value - and a tradition that lives on through HanStone.
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