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

  • Hidromek introduces new top-of-the-range excavator
    January 6, 2017
    Hidromek is widening its excavator line-up further with the addition of a 49tonne model, as well as unveiling its prototype wheeled loader. The new top-of-the-range excavator takes the company firmly into the extraction market, sharing many of the proven features of the smaller models manufactured by the Turkish firm. High productivity, reliability and durability are claimed, along with low running costs, ease of operation and also ease of maintenance. Meanwhile the firm’s prototype wheeled loader will also
    Read More
  • Caterpillar establishes regional training centre in Dubai
    July 28, 2015
    Caterpillar is setting up a regional training centre in Dubai. This new technical and sales training centre will be used to support more than 7,000 Cat dealer technicians in the Africa and Middle East (AME) Region. The company is investing over US$7 million in the facility, which will cover an area of about 1,700m2 and employ 40 personnel. Most of the team will be high-level technical staff who will primarily be recruited from the region. The facility will help support the technicians at AME Cat dealer
    Read More
  • New milling and stabilisation technology is coming to market
    May 29, 2013
    An array of new developments in the market for road recycling and stabilisation machines as well as milling equipment is now on offer - Mike Woof reports. Major new developments are being seen in the sector for road recycling and stabilisation equipment, as well as milling machines. New models are coming to market that benefit from the latest low emission engine technology to meet the increasingly tough European and North American requirements.
    Read More
  • New northern relief road for Moscow
    August 20, 2015
    New Concession Company to build northern relief road of Moscow Kutuzov Avenue – Eugene Gerden writes New Concession Company has won a tender for the building of the Northern relief road of Kutuzovsky Avenue, a major radial avenue in the Russian capital Moscow. The firm is part of Leader company (one of Russia's largest management companies), owned by Yuri Kovalchuk, a well-known Russian businessman, who is reportedly close to Russia’s president Vladimir Putin. It is planned that the building of the n
    Read More

Highlighted Content