Hyundai opens new facility in Brazil

236 Hyundai Heavy Industries has completed its first construction equipment factory in Brazil. The 562,000 m2 factory represents an investment of US$175 million and will have a production capacity of 3,000 units/year initially. It will produce excavators, wheel loaders, and backhoe loaders, and the firm also has plans to increase capacity to 4,000 units/year by 2014. This new Brazilian plant will serve as the South and Central America base helping Hyundai Heavy secure market share, and provide better service to clients in the region. "We believe our construction factory can make contributions to, and grow together with the Brazilian economy which continues to grow as a center of the global economy." said Choe Byeong-ku, president and COO of Hyundai Heavy Industries's Construction Equipment Division