The Hyundai stand at the LogiMAT expo in Stuttgart this year.

Hyundai Heavy Industries Co Ltd recorded 2.3% growth in 2012 despite a difficult global economy.

President and CEO Lee Jai Seong says the company seized the opportunity to lay a solid foundation for growth in many areas amidst challenging circumstances.

"We became the world's first shipbuilder to pass the 100 million deadweight ton delivery milestone. We booked a USD3.2 billion power project order in Saudi Arabia, our largest order to date. And we raised our record in the Guinness World Records for the heaviest object lifted on land during the delivery of a 23,600 T gas compression platform to Woodside Energy of Australia," Lee explains.

The manufacturing giant, which also makes Hyundai forklifts, posted turnover of USD491.9 million in its 2012 truck division, compared to USD362.7 million the year before. Group turnover in 2012 totaled USD51.3 billion, compared to USD46.6 billion in 2011.

In 2012, Hyundai produced 18,000 units of motorised industrial trucks, compared to 15,700 units in 2011.