Hyundai Heavy Industries Co., a South Korean shipbuilding and heavy machinery giant, said Sunday it plans to build a wheel-loader plant in eastern China, the world's largest construction equipment market.
Hyundai Heavy Industries said it had broken ground for the plant in Taian in China's Shandong province, which will have an annual capacity of 8,000 wheel loaders used mainly for moving earth, sand and gravel onto trucks.
The plant, to be constructed at a cost of US$48 million, is scheduled to be completed in April 2011 and will produce 3-ton and 5-ton wheel loaders, the company said.
Hyundai Heavy Industries said it will ramp up efforts to raise wheel-loader sales in China to more than 10,000 units within the five years after the plant's completion. |
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