Hyundai inaugurates in Brazil equipment factory

Rio de Janeiro-the South Korean multinational Hyundai inaugurated on Wednesday in Itatiaia, in the South of the State of Rio de Janeiro, their first factory of heavy equipment for construction outside Asia, which invested r $ 360 million.
The Hyundai Heavy Industries began to operate with a capacity to produce up to one thousand per year, as heavy machinery excavators and backhoes, announced the company's President, Choe Byeung Ku, at the opening ceremony.
The production capacity can reach 5 thousand units per year in 2015, when the plant will be operating with 500 employees.
Also participated in the opening ceremony the Hyundai's Director in Brazil, Kang Sung Woo, and the Governor of Rio de Janeiro, Sérgio Cabral.
"This is the first time that the Hyundai Heavy Industries installs a plant in Latin America. It is an extraordinary achievement for the development of Brazil in terms of infrastructure, "said Cabral, referring to the country's demand for heavy construction machinery in the works of the 2014 World Cup and 2016 Olympic Games.
"Brazil is living an extraordinary moment and has been facing world crises with skill and effort without stop growing. As well as South Korea hosted a World Cup and the Olympics, also will be the headquarters of these events and we hope to attract businesses and investments, "added the Governor of Rio.
The President of Hyundai Heavy Industries has admitted that the company hopes to benefit from the works provided for in the orders for major sporting events, but explained that the company's plans are for the long term.
"With the proximity of the World Cup and the Olympics there is a great demand, but there is also an expectation of very large growth in the segment of heavy machinery for civil construction in Brazil," said Choe Byeugn Ku.
"Brazil is an important country in the world economy and rely much on its potential. We want to collaborate in the development of the country, "he added.