Hyundai To Build Machines In Brazil
Hyundai Heavy Industries (HHI) announced that it will start machinery manufacturing in Brazil in March 2013. A new plant is under construction in Itatiaia, in Rio de Janeiro State.
The investment will be $180 million and the plant is part of the year-old BMC-Hyundai joint venture with Brasil Máquinas de Construção (BMC). The plant will supply primarily supply excavators, wheel loaders and forklifts.
Initial production is targeted at approximately 2400 machines and roughly 80% of the production will be sold in the domestic market, Brazil said. This will be only the second HHI plant outside of Korea, with the other located in China.