CAP Signs Supply Contract with A company in Europe: "Expanding into the European Market"

CAP is launching a full-scale drive to enter the European market.

On June 24, CAP announced that it has secured A company in Europe as a new client. Starting this month, CAP has begun supplying high-value-added products such as flat wipers and rear wipers to A company.

CAP has also successfully signed a supply contract with B company in the UK. B company is the largest distributor of automotive and bicycle supplies in the UK and Ireland. CAP will supply flat wipers and rear wipers, with the expected annual sales from this contract estimated at approximately 1.6 billion won.

The acquisition of these major new clients in Europe is expected to not only boost sales but also diversify revenue by region. Last year, the European market accounted for only 2% of the company's wiper business sales. Once the order volumes from both clients are fully reflected in the results, the proportion of sales from the European region is projected to more than double compared to the previous level.

A company spokesperson said, "A company chose CAP after ending its business with existing global automotive parts companies, recognizing our strong technological and quality competitiveness. We will continue to strengthen our efforts to expand in the European market, building on our new contracts with clients in Europe and the UK."

This content was produced with the assistance of AI translation services.