Hyundai Heavy Industries Company has announced plans for a major 330 million USD investment in the expansion of its construction equipment productioncapacity. The company will be building new facilities close to its existing plant on the outskirts of Ulsan in South Korea.
As well as a brand new production and assembly plant, the facilities will also include technical engineering offices, test laboratories, a machine depot and sales & marketing offices. It is expected to come on stream in October 2010.
By more than doubling the plant size up to 181,000 sq.m, production capacity will be nearly trebled, from 22,000 to about 60,000 units per year. The total surface of the premises will grow from 218,000 sq.m to 452.000 sq.m. The number of plant employees will increase accordingly.
Hyundai will be producing all its current and future machine models across the range of tracked and wheeled excavators, wheel-loaders, mini/midi excavators, skid steer loaders and forklift trucks at the new plant, while preparing the company for the introduction of new product lines and larger machines, which are in a development stage. Machines produced here will be sold into the Korean market and exported to all over the world.
Commenting on this ambitious project, Construction Equipment Division COO, Kiu-Hyun Park said, “This project is a mark of our confidence in the future, our expanding product range and the growing acceptance of our products in the global marketplace.“
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