 Hyundai's production facility in Ulsan. |
Hyundai Heavy Industries Co Ltd plans to invest USD330 million to expand its construction equipment production capacity with new facilities on the outskirts of Ulsan in South Korea.
Close to its existing plant, the new facilities will include a production and assembly plant, technical engineering offices, test laboratories, a machine depot and sales and marketing offices. The new site is expected to begin operating in October 2010.
The new facilities will double Hyundai's Ulsan plant space to 181,000m² (1,948,268sqft) and total production capacity will nearly treble from 22,000 units to about 60,000 units a year. The total area of the premises will grow from 218,000m² (2,346,533sqft) to 452,000m² (4,865,287sqft).
Hyundai will manufacture forklifts, excavators, wheel-loaders, mini/midi excavators and skid steer loaders at the new plant for the Korean and overseas markets.
Kiu-Hyun Park, Hyundai's construction equipment department COO, says the project reflects the company's confidence in the growing acceptance of its products in the global marketplace.