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Home arrow News arrow Business News arrow Hyundai starts production of construction equipment in Pune
Hyundai starts production of construction equipment in Pune Print E-mail
Written by Anand   
Friday, 05 December 2008
Pune : Hyundai Construction Equipment India Private Ltd (HCE), the Indian subsidiary of Hyundai Heavy Industries Company Ltd (HHI), Korea, formally inaugurated a construction equipment factory at Chakan in Pune, Maharashtra on November 21 and the production of 20-tonne hydraulic excavators is in full swing.

The greenfield facility, built with an investment of Rs 300 crore, is located on 50 acres of land. It has an office building with a floor space of 15,000 square meters and a factory that covers 202,000 square meters of floor space with a current capacity of producing 2500 Excavator units annually.

The factory has a fabrication shop, paint shop and assembly linesand currently employs 400 people. The company plans to produce 300 20-Ton Class Excavator units this year, with annual production increasing to 1000 by 2010.

According to Mr. Park Kiu-hyun, COO of HHI's Construction Equipment Division, India is the fastest emerging market in the world and the company expects a 11 to 20% growth in the construction equipment market over the next five years. HHI aims to capture 15% of the Indian construction equipment market by 2012.

The company plans to increase its market share through a local market adjustment strategy and aggressive investment and 17 new exclusive dealerships have been appointed to sell the equipment that is being manufactured  at its Pune facility.

 
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