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November 23, 2021 | Corporate News
NORCROSS, Ga. (Nov. 1st, 2021) – An intermediary holding company, Hyundai Genuine, has been established, following the purchase in August of Doosan Infracore, by Hyundai Heavy Industries Group.
Doosan Infracore has since been renamed Hyundai-Doosan Infracore. Hyundai Construction Equipment and Hyundai-Doosan Infracore will continue to operate under their own management structure and systems, competing as sister companies within the global equipment market. Hyundai Genuine will provide support to both businesses, while maximizing the available synergies between the two. Some of the details of the structure are listed below:
Hyundai Genuine’s intention is to rank among the Global Top 5 construction equipment manufacturers, capturing 5% of global markets by 2025.This will initially be achieved through the development of integrated excavator and wheeled loader platforms, by 2025, that will be utilized by both companies. The two manufacturing businesses will combine their research and development efforts, to increase technological competitiveness, while sales strengths will be increased through mutually complementary ranges of machinery.
Further ahead, new investment will be increased, to secure next-generation business activities. The plans include the development of hydrogen engines for construction equipment, further mergers and acquisitions, investment in start-up businesses and closer industry-university cooperation to develop market-leading expertise in automation and electrification.
Hyundai Heavy Industries Group Chairperson Kwon Oh-gap has vowed to develop the construction equipment business as a core sector of the group, a decision that will be backed by further investment at group level.
May 30, 2023 | Corporate News
NORCROSS, Ga. (May 31, 2023) – Hyundai Construction Equipment Americas today announced the addition of Pillar Equipment to its North American network of authorized dealerships. Based in Silvis, Ill., in the Quad Cities region, Pillar Equipment will represent the full line of Hyundai Construction Equipment products in Rock Island, Henry, Whiteside, and Mercer Counties in […]
April 17, 2023 |
NORCROSS, Ga. (April 7, 2023) – Hyundai Construction Equipment Americas today announced the expanded dealership territory of Taylor Construction Equipment to include portions of Indiana and Ohio. Taylor Construction Equipment, a Division of the Taylor Group of Companies, Louisville, Miss., joined the Hyundai Construction Equipment Americas dealer network in 2021, representing Hyundai from locations in […]