Hyundai Heavy Industries (HHI) has completed its first construction equipment factory in Brazil. The completion ceremony for the factory in Itatiaia, Rio de Janeiro was attended by Sergio Cabral, Rio de Janeiro State Governor and Luis Carlos Ferreira Bastos, Mayor of Itatiaia and Choe Byeong-ku, President and COO of Hyundai Heavy Industries, Construction Equipment Division.
With an investment of $175 million, the 562,000 m2 factory has an annual production capacity of 3,000 units including excavators, wheel loaders, and backhole loaders, and plans to increase the capacity to 4,000 units by 2014. Choe Byeong-Ku said “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.”