Hyundai Heavy opens newest factory in Rio de Janeiro

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Hyundai Heavy opens newest factory in Rio de Janeiro

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading construction equipment manufacturer, said yesterday it has opened a construction equipment manufacturing plant in Rio de Janeiro, Brazil. Completion of the $175 million factory has paved the way for the Korean company to own construction equipment facilities in Brazil, India and China, it said. It established similar facility in China in 1996 and in India in 2008.

The 562,000-square-meter (139-acre) Brazil plant is capable of producing 3,000 pieces of construction equipment a year, including excavators, wheel loaders and backhoe loaders. The company aims to boost its annual capacity to 4,000 units by 2014.

The company said the outlook of for construction equipment sales in Brazil is bright given that its government is gearing up for the 2014 World Cup and 2016 Olympics.

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