New engine supply joint venture between Hyundai and Cummins

Hyundai Heavy Industries (HHI) and Cummins are setting up a joint venture to produce engines in South Korea for the earthmoving equipment market. The two companies are investing US$33 million each into the project, which will be called Hyundai Cummins Engine Company and will have its factory located in Daegu. Production is scheduled to commence in 2014, with capacity reaching 50,000 engines/year once the facility is fully commissioned.
September 26, 2012 Read time: 1 min
The strategic joint venture between Hyundai and Cummins for engine production in South Korea will provide business growth for both partners
236 Hyundai Heavy Industries (HHI) and 196 Cummins are setting up a joint venture to produce engines in South Korea for the earthmoving equipment market. The two companies are investing US$33 million each into the project, which will be called Hyundai Cummins Engine Company and will have its factory located in Daegu. Production is scheduled to commence in 2014, with capacity reaching 50,000 engines/year once the facility is fully commissioned. This factory will provide HHI with a steady supply of high quality engines that can be made available to meet market demands. Sales are expected to reach $282 million in 2014 and are predicted to grow, with a target of $3.53 billion set for 2022 by which time the plant should employ 5,300. HHI says that the new joint venture forms part of its plans to become one of the world’s top three manufacturers of construction equipment by 2016 on annual sales of $9.1 billion.

For more information on companies in this article

Related Content

  • JCB is building a new US factory
    October 16, 2023
    JCB is building a new US factory in Texas.
    Read More
  • Asphalt plants looking at greener production systems
    April 10, 2012
    A wide variety of new equipment and technology to assist production at asphalt plants is about to be launched onto the market, while asphalt producers are continuing to look at greener working practices. Guy Woodford reports. Lintec, in partnership with Loesche, recently created what they say is the world’s first containerised Coal Mill Plant for independent coal dust supply at the jobsite which offers mobility and high economic efficiency through the substitution of gas or oil with coal.
    Read More
  • China's increased aggregates production
    April 16, 2012
    A new range of equipment from SHANBAO has helped to increase limestone production to meet Henan Province's aggregates demand. SHANBAO has supplied a full range of equipment to two companies in a growth region of China.The Chinese-based manufacturer of stationary crushing and screening equipment supplied the equipment to Yongsheng Aggregates and Yongye Trading. The crushing, screening and feeding equipment is being used to process limestone that supplies 10% of the aggregate requirements in the Henan region'
    Read More
  • SDLG wheeled loaders for Moscow’s new roads and buildings
    March 28, 2014
    Two factories in Russia’s greater Moscow region are using SDLG wheeled loaders to help distribute sand and gravel for use in new roads being built across the region With Russia one of the world’s fastest growing market economies, its need for infrastructure expansion has meant more roads and, as a result, a massive increased need for sand and gravel production. Two sand and gravel factories near Moscow are said to be helping produce the new roads, sidewalks, and also, buildings.
    Read More

Highlighted Content