Hyundai investing millions to expand production
Company to spend US$170 Million to increase construction equipment production capacity.
Hyundai Construction Equipment recently announced plans to invest US$170 million in its factory in Ulsan, Korea. The company plans to increase the production capacity at the plant by 50 per cent, to 15,000 units per year. The investment, which will be spread across four years, is the largest since the company’s launch in 2017.
“This increase in manufacturing capability means that Hyundai will be able to address global growth in construction activity,” said Stan Park, president of Hyundai Construction Equipment Americas. “For North America, this positions us to better meet demand arising from planned investments in infrastructure expansion.”
Hyundai Construction Equipment’s investment is focused on restructuring production lines to maximize and expand production capacity for excavators, wheel loaders and other types of construction equipment. Specifically, they will merge production and assembly functions, simplifying workflow processes, increasing efficiency and reducing logistics costs.
Hyundai Construction Equipment plans to reflect environmental, social and governance factors through such measures as the use of eco-friendly sub-materials in interior and exterior finish work and configuring production lines in a way that further improves worker safety.
Hyundai Construction Equipment Americas, Inc., offers a full line of crawler excavators, ranging from compact models to mass excavators, as well as wheeled excavators, wheel loaders, compaction equipment and hydraulic breakers.