Hyundai Heavy Completes Transformer Factory in Alabama
Hyundai Heavy Industries, the world's biggest shipbuilder and a leading electric equipment manufacturer, completed a transformer factory in Alabama, USA on November 19.
The completion ceremony for the 404,000 square meter factory was attended by Mr. Robert Bently, Governor of Alabama; Mr. Todd Strange, Mayor of Montgomery; Mr. Lee Jai-seong, President & CEO of Hyundai Heavy; and Mr. Kim Kwon-tae, COO of Hyundai Heavy's Electro Electric Systems Division.
With an investment of USD 100 million, the plant has an annual production capacity of 200 units of 500 kV transformers. The new plant in Alabama serves as a key overseas production base to expand power equipment business not only in North America but also in Latin America.
According to Goulden Reports, a research firm specializing in the electricity and electrical equipment markets, the US transformer market will grow to USD 4.3 billion by 2015 due to increasing demand for new equipment and expansion.
Hyundai Heavy expects the new transformer plant will offer more sales opportunities for medium-sized transformers both in North and Latin American markets.
Hyundai Heavy, having the world's largest transformer production capacity of 120,000 MVA in Ulsan, Korea, also has the electro electric equipment factory in Bulgaria. With the completion of the new transformer plant in USA, Hyundai Heavy has set up a global supply chain for transformers in Asia, Europe, and America.
*Photo: Mr. Todd Strange, Mayor of Montgomery (3rd from left); Mr. Lee Jai-seong, President & CEO of Hyundai Heavy (4th from left); Mr. Robert Bently, Governor of Alabama (5th from left)(Picture in Picture :Hyundai Heavy's Alabama Transformer Factory)
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Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
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