New Hyundai – Cummins JV factory opens in Korea

A new joint venture factory in South Korea has now been completed for the Hyundai Cummins partnership. The 78,045m2 Hyundai Engine Company (HCEC) plant is located in Daegu and will produce engines for construction machines. The two firms agreed a deal to establish the joint venture plant, capable of producing 50,000 engines/year, back in December 2012. This operation has a sales target of US$500 million by 2020, and is expected to create about 3,700 direct and indirect jobs in the region by 2020.
May 12, 2014 Read time: 1 min
The new engine factory producing diesels in South Korea for the Hyundai Cummins joint venture is now complete
A new joint venture factory in South Korea has now been completed for the 236 Hyundai 196 Cummins partnership. The 78,045m2 Hyundai Engine Company (HCEC) plant is located in Daegu and will produce engines for construction machines. The two firms agreed a Deal to establish the joint venture plant, capable of producing 50,000 engines/year, back in December 2012. This operation has a sales target of US$500 million by 2020, and is expected to create about 3,700 direct and indirect jobs in the region by 2020.
Engines, Components & Tyres

For more information on companies in this article

Related Content

  • India rushing to improve its highway system
    February 9, 2012
    Despite the world economic slowdown, India still seems in a rush to improve its highway system as Patrick Smith reports. Later this year India will be seen by hundreds of millions worldwide when the country's capital New Delhi hosts its biggest event ever.
    Read More
  • Italy has announced key project plans
    March 11, 2013
    Italy’s public road concession firm, ANAS, has signed an agreement with the region of Sardinia and the government for upgrade works on the Sassari-Olbia road worth a total €930.7 million.
    Read More
  • Chinese firm Shantui is developing a long term business strategy for growth
    November 13, 2014
    Chinese manufacturer Shantui is expanding its operations with a more diverse range of products – Mike Woof reports Chinese manufacturer Shantui is reorganising its operations to cope with the current tough market conditions, taking a long term view that is geared for future growth. The firm has expanded its operations significantly, broadening its product line away from its reliance on the bulldozer business where it has its origins. Demand for concrete equipment has been strong in China and the firm saw t
    Read More
  • Chinese firm Shantui is developing a long term business strategy for growth
    January 6, 2017
    Chinese manufacturer Shantui is expanding its operations with a more diverse range of products – Mike Woof reports Chinese manufacturer Shantui is reorganising its operations to cope with the current tough market conditions, taking a long term view that is geared for future growth. The firm has expanded its operations significantly, broadening its product line away from its reliance on the bulldozer business where it has its origins. Demand for concrete equipment has been strong in China and the firm saw t
    Read More

Highlighted Content