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Hyundai WIA to invest USD 4 million to set up plant near Sriperumbudur Print E-mail
Written by Krishna Kumar   
Friday, 21 January 2011
Chennai: Korea's Hyundai WIA, a manufacturer of automotive parts, machine tools and heavy machinery, will soon set up it's plant near Sriperumbudur, Tamil Nadu. The company will invest USD 4 million to set up this plant. The new plant will focus on auto component manufacture and it is expected to employ around 100 skilled personnel in one year.

"Although we have been providing our products to clients in India for the last four years, the setting up of this manufacturing unit will strengthen our position in the country," said H.S. Lheem, President & CEO, Hyundai WIA.

"India is fast emerging as the global hub for the automotive industry, the new plant in Tamil Nadu will help in catering to the growing needs of this industry," he added.

The plant will produce constant velocity joints, in addition to transmissions, castings and forgings. The company is already in discussions with General Motors India to supply transmissions. In the arena of transmissions, Hyundai WIA has the best technology and production background and provides transmissions for all automobiles manufactured by Kia Motors and most of its parts to Hyundai Motor as well.

With the fourth biggest market share in the world for C.V. (Constant Velocity) joints, Hyundai WIA is in the process of developing the futuristic fourth generation C.V. joints. The company produces automobile engines (Alpha, Gamma, Kappa, NU engines) and other automotive parts.

In addition to this, a second plant is also planned at an investment of about USD 6 million. The location has not yet been finalised. It is most likely to come up near the company's unit in Sriperumbudur or in the state of Andhra Pradesh.

Hyundai WIA not only produces automotive parts but has a strong presence in the machine tools, press, plants, and aircraft/defence fields as well. By creating a diversified lineup and machines with various segments such as CNC lathes, vertical/horizontal machining centers, and boring machines Hyundai WIA creates machine tools that have high productivity and efficient operating devices, supplying its machines to manufacturing companies worldwide.

Hyundai WIA has sold more than 2000 machines in India over the last 4 years. The company plans to increase it's number of dealers in India from 4 to 10. It also plans to set up technical centers in Chennai and Delhi.

Hyundai WIA was set up in Korea in 1976 and has a network of six corporations, 9 offices and one Research and Development centre globally. A state-of-the-art Technical Centre has been set-up in Michigan, USA, while the company’s European operations are overseen from Frankfurt, Germany. Operations in Brazil are in the pipeline.

Currently, engine manufacturing plants are located in Pyeongtaek, Korea and Rizhao, China. With a differentiated marketing strategy, they focus on strongly marketing eco-friendly machine tools in the European regions and its large-sized machine tools in North America. In 2011, Hyundai WIA is planning to expand its overseas dealer networks, especially in the newer and faster-growing markets located in South America and south-east Asia, including India.

In 2009, Hyundai WIA registered sales worth USD 3.1 billion in 2009, making it the 65th biggest automotive parts company in the world. With the biggest market share for machine tools in Korea for the last nine years, the company registered sales around USD 5 billion.

 
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