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CONEXPO CON/AGG 2023

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Las Vegas Convention Center
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Las Vegas, NV 89109

Hyundai and Doosan to compete under the Genuine Tie-up

Hyundai and Doosan to compete under the Genuine Tie-up

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.

 

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Hyundai Construction Equipment Americas Announces Stan Park as President

November 1, 2021 | Corporate News

Hyundai Construction Equipment Americas Announces Stan Park as President

NORCROSS, Ga. (Nov. 1st, 2021) – Hyundai Construction Equipment Americas, Inc., today announced the appointment of Stan Park as President of the company. A 27-year veteran of Hyundai, Park previously held various field and executive-level leadership roles, most recently as the vice president of Marketing and Dealer Development. “Stan is a pillar of HCEA in […]

Hyundai Construction Equipment Adds Taylor Construction Equipment to North America

September 23, 2021 | Corporate News

Hyundai Construction Equipment Adds Taylor Construction Equipment to North America

NORCROSS, Ga. (September 2021) – Hyundai Construction Equipment Americas announces the expansion of its North American authorized dealer network with the addition of Taylor Construction Equipment, a Division of the Taylor Group of Companies, headquartered in Louisville, MS. For over 90 years, Taylor has been committed to providing its customers with the highest quality material […]

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