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

  • SANY Mining is expanding its rigid truck presence
    October 14, 2013
    SANY Mining is gearing up to expand sales of its rigid haul truck range, as well as developing new models - Mike Woof writes. The global rigid dump truck market is at present dominated by a small number of manufacturers, but SANY Mining intends to challenge its main rivals internationally, having developed its presence in its home market. SANY Mining is continuing to expand its SRT range of off-highway dump trucks, as well as boosting its sales of these machines in China and for export.
    Read More
  • New online machine store will slash prices by up to 45%
    January 6, 2017
    A brave new business model which promises to deliver Chinese construction equipment with US-style customer support and after-sales service to the North American market was launched at Conexpo on Wednesday. Customers can buy machines online at between 30 and 45% less than competitor products, according to new company International Construction Products (IPC) Direct.
    Read More
  • New online machine store will slash prices by up to 45%
    March 7, 2014
    A brave new business model which promises to deliver Chinese construction equipment with US-style customer support and after-sales service to the North American market was launched at Conexpo on Wednesday. Customers can buy machines online at between 30 and 45% less than competitor products, according to new company International Construction Products (IPC) Direct.
    Read More
  • LiuGong is investing in product development and manufacturing
    October 11, 2013
    LiuGong has been investing heavily in manufacturing and product development, as well as building international distribution – vice president David Beatenbough spoke with Mike Woof One of Chinese leading producers of wheeled loaders, LiuGong has an increasingly international flavour. The company has perhaps a larger contingent of North American and European executives and employees working in China than most of its competitors in the country.
    Read More

Highlighted Content