Hyundai WIA begins India operations
Hyundai WIA is commencing its manufacturing plant in India. This Hyundai Motor Group arm into production of machine tools, auto mobile components, heavy machinery and machine tools is all set to establish two new production units in the country with an investment of as much as $10 million (almost Rs 45 crore). The same was declared by a senior executive from the company on 20th January 2011. Tamil Nadu is becoming a favourite place for manufacturers and its ancillaries as it is a preferred place for setting up a unit.
H S Lheem, the President and CEO of Hyundai WIA, branch of the Hyundai Motor Group, declared the firm's first manufacturing plant near by Sriperumbudur in Tamil Nadu, India which will have an investment of around $ 4 million.
As per the plan, the manufacturing unit will have production capacity of 60,000 units yearly and will also help in creating almost 100 jobs for skilled people in one year's time. It was reported by Lheem who had earlier held the position of the Managing Director in Hyundai Motor India.
Mr Lheem said that the company has it clients in India and has been serving since four years but after the set up, the company is sure to further strengthen its position further. Tamil Nadu is a growing state and a manufacturing unit in this state will best cater to the demands of the country. He further said that the company aims to start the production of automotive ancillary and the fourth generation CV (constant velocity) and at later stages, will be expanding into casting, transmission and forging. As per the company, the company has supplied over 2,000 machines in India in a four years time span. The company owns four dealerships which is soon to increase to ten catering to the major cities in India. Also the company wishes to start a technical centre in Delhi and Chennai. Mr Lheem also said that Hyundai WIA is in conversation with General Motors India for supplying transmissions.
The Hyundai arm is known for its technology and manufacturing background and transmission for all the automobiles produced by Kia Motors and its most components for Hyundai also. The company also holds its presence in press, plants, aircraft/ defence and machine tools. The company also manufacturers vertical/ horizontal machining centres, boring machines and CVG lathes. The company is well known for efficient operating devices and high productivity supplying all around the world. .
Hyundai WIA is spread in six corporations with 9 offices and one global research and development centre.
The company visions on manufacturing eco friendly machine tools in European regions and large sized machine tools in Northern America. The company is looking at the growing markets of India, South East Asia and South America. Hyundai WIA in 2009, recorded sales of USD 3.1 billion and it is the 65th largest auto mobile component firm across globe. The company has also been enjoying the largest market share in Korea from past nine years by registering sales of almost USD 5 billion.
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