Hyundai announce major production expansion
HYUNDAI Heavy Industries Co. Ltd have announced plans for a major $330 million (£174 million) expansion of their construction equipment production capacity, with new facilities to be built close to their 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 and marketing offices. The new facilities are expected to come on stream in October 2010.
By more than doubling the production plant size to 181,000 sq m, Hyundai say production capacity will be nearly trebled from 22,000 to approximately 60,000 units per year, while the total surface area of the premises will grow from 218,000 sq m to 452,000 sq m, and the number of plant employees will also be increased accordingly.
Hyundai say all current and future models across their range of tracked and wheeled excavators, wheel loaders, mini-/midi-excavators, skid-steer loaders and fork-lift trucks will be produced at the new plant, while the company prepares for the introduction of new product lines and larger machines that are currently in development.
Commenting on the project, Hyundai Heavy Industries’ Construction Equipment Division chief operating officer, Kiu-Hyun Park, said: ‘This project is a mark of our confidence in the future, in our expanding product range, and in the growing acceptance of our products in the global marketplace.’
