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

  • New factory for excavator components
    April 5, 2012
    Caterpillar plans to open a new manufacturing facility in Xuzhou, Jiangsu Province, China, to produce undercarriage components and track assemblies, which are utilised on Cat hydraulic excavators.
    Read More
  • Golden opportunities in the MINT - Mexico, Indonesia, Nigeria, Turkey
    May 21, 2015
    Mexico, Indonesia, Nigeria, Turkey – Global Report offers up some food for thought about where smart money might be headed within the next several years – David Arminas writes China’s rate of growth may be slowing down, but other South East Asian companies are being quick to offer alternate investment opportunities, notably Indonesia. Nigeria, too, has had issues with security of investment. But there are signs that the government may be getting serious at last about tightening up rules and regulation
    Read More
  • Major success for bC India despite challenging economic conditions
    April 4, 2013
    Despite challenging times, the second bC India construction equipment show proved a success Mumbai, India’s most populous city and the fourth most populous in the world, has again delivered a successful bC India. The bauma/ConExpo international trade fair for construction machinery, building material machines, mining machines and construction vehicles, was held at the Bandra Kurla Complex, and impressively strengthened its position in the Indian market despite the challenging situation in the industry. Duri
    Read More
  • China looking to export construction machines
    March 16, 2012
    Chinese firms are looking to develop overseas sales but are using very different strategies – Mike Woof reports. Aggressive expansion plans will see Chinese manufacturers boosting overseas sales in coming years. These companies are developing bigger sales profiles around the world, particularly in emergent markets such as Africa, the Middle East and Latin America. It is worth noting too that Chinese products continue to gain in terms of quality and performance. For LiuGong, Sany, Shantui, XCMG and Zoomlion
    Read More

Highlighted Content