Hyundai and Cummins joint ventures

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. This factory will provide HHI with a steady supply of high quality engi
November 27, 2012 Read time: 2 mins

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 236 Hyundai 196 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.
Engines, Components & Tyres

For more information on companies in this article

Related Content

  • Caterpillar’s 2016 results reflect tough market conditions
    January 31, 2017
    Caterpillar’s financial results for 2016 reflect the tough trading conditions that US construction machine firms in particular have been experiencing. In another development, the firm is looking to move its global corporate headquarters from Peoria to Chicago.
    Read More
  • Brazilian mine and infrastructure projects create jobs
    June 11, 2012
    A huge $5 billion Brazilian mine project together with extensive infrastructure developments is expected to create 8,000 jobs Huge export opportunities in Brazil, including equipment for aggregate production and highway construction, are being highlighted by the UK Construction Equipment Association (CEA). UK Trade & Investment (UKTI) has appointed the CEA to deliver a UK Information Share Fair and extended Trade Mission to Brazil to promote a major high value opportunity for UK manufacturers and service pr
    Read More
  • Concrete paving key to Berlin's airport runways
    February 17, 2012
    High production concrete paving is proving a key feature at the new Berlin airport facility currently under construction The new Berlin-Brandenburg International Airport will soon provide improved links by air to the city. Work started in mid 2006 with the redevelopment of the existing Berlin Schönefeld Airport.
    Read More
  • Ethiopia’s challenging cement market: consumption stimulation
    January 26, 2018
    Ethiopia’s cement industry has enjoyed substantial growth in the past decade. However, challenges linked to the government’s investment policy could erode these gains, as Shem Oirere reports With nearly 16.5 million tonnes of cement capacity and 10% average growth in annual consumption, Ethiopia is among the top cement producers in sub-Saharan Africa. Only Nigeria and South Africa rival it.
    Read More

Highlighted Content