DAEGU < invest Korea

(DAEGU=NEWSIS) Completion ceremony for an engine factory build by Hyundai Cummins Engine Company (HCEC), a joint venture company between Hyundai Heavy Industries (HHI) and Cummins, an American company, was held on May 12 at 14:00 in Daegu Technopolis, a free economic zone.

The event was attended by Chairman Lee Jai-seong of HHI, Vice president Dave Crompton of Cummins, Kim Bum-il, Mayor of Daegu Metropolitan City and 400 other guests.

Hyundai Cummins Engine Company aims to achieve annual sales of USD 500 million by 2020, and is expected to create about 3,700 direct and indirect jobs in the region by 2020.

The establishment of the joint engine factory will give Hyundai Heavy Industries’ Construction Equipment Division a stable supply of high-quality engines that are essential for improving the performance and quality of its construction equipment.

In the ceremony, Mr. Lee Jai-seong said, “I would like to extend my sincerest appreciation to Daegu Metropolitan City and its citizen for their strong support to make today’s inauguration ceremony possible. It is our belief that when HCEC engine factory goes into operation, it will play an active role in galvanizing the local economy.”

nhy@newsis.com