Hyundai Heavy Industries Co. Ltd. and Cummins Inc. (CMI: Quote) announced a 50/50 joint venture partnership to manufacture MidRange engines in Korea extending from 150 hp to 300 hp output for application in a wide range of Hyundai construction and industrial equipment. The Hyundai Cummins Engine Company or HCEC joint venture launch took place in Ulsan, Korea, with a ceremonial co-signing of the deal by Byeong-Ku Choe, Chief Operating Officer and President - Hyundai Construction Equipment Division, and Rich Freeland, Cummins Vice President and President - Engine Business.
The HCEC joint venture would be located in the city of Daegu, Korea, with engine manufacturing to start in 2014. According to the company, the new facility would be capable of building over 50,000 engines per year at full production. HCEC would supply engines spanning the MidRange 5.9-liter to 8.9-liter displacement range for Hyundai excavators, wheel loaders and industrial equipment built in Ulsan and other locations globally. The joint venture engines would power Hyundai equipment in markets with high growth potential such as Russia, the Middle East, Africa and Southeast Asia.
Engines manufactured at the HCEC facility would be based on the Cummins B, C and L MidRange platforms meeting emission levels equivalent to U.S. Environmental Protection Agency Tier 2 and Tier 3 off-highway regulations, either already in place or set to be introduced in many rapidly developing countries.
 | | To receive FREE breaking news email alerts for Cummins Inc. and others in your portfolio |
|
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News