Hyundai Heavy Industries Co., Ltd. (HHI) has completed construction of its first construction equipment factory in Rio de Janeiro, Brazil.
HHI, which manufactures construction equipment, invested around $175 million on the six-million-square-foot facility, which will have an annual production capacity of 3,000 units. The plant will manufacture excavators, wheel loaders and backhoe loaders. The company hopes to increase the plant’s capacity 4,000 units by 2014.
“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,” says Choe Byeong-ku, president and COO of Hyundai Heavy Industries’ Construction & Equipment Division.
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