+
Hyundai Units Unite as USD 6.15bn Construction Equipment Firm
ECONOMY & POLICY

Hyundai Units Unite as USD 6.15bn Construction Equipment Firm

HD Hyundai Construction Equipment and HD Hyundai Infracore will merge to create HD Construction Equipment, a new company launching with consolidated sales of about USD 6.15 billion. Boards of both firms approved the tie up on 1 July; an extraordinary shareholders’ meeting is set for 16 September, subject to regulatory clearance.

The merger is designed to sharpen the group’s response to volatile markets, bolster technological capability and keep costs competitive. The combined business will trade under two brands, Hyundai and Develon, focusing on construction equipment while growing its engine and aftermarket divisions.

By 2030 the company targets annual revenue of USD 11 billion. Scale benefits will be sought by optimising product lines and assigning regional production specialties. Expansion of the compact machinery range aims to deliver a complete line up from mini to ultra large kit, reinforcing core competitiveness.

To widen income streams, HD Construction Equipment will nurture its engine operation and enlarge aftermarket services such as parts replacement and maintenance. Integrated R&D will drive future growth through electrified and smart machines and end to end equipment solutions.

Under the share swap terms, each common share in HD Hyundai Infracore will be exchanged for 0.1621707 common shares in the new company.

“This merger will power sustainable growth for HD Hyundai’s construction equipment division, strengthening our global position and marking a milestone for Korea’s industry,” said Cho Young cheul, president and chief executive of HD Hyundai XiteSolution.

HD Hyundai Construction Equipment and HD Hyundai Infracore will merge to create HD Construction Equipment, a new company launching with consolidated sales of about USD 6.15 billion. Boards of both firms approved the tie up on 1 July; an extraordinary shareholders’ meeting is set for 16 September, subject to regulatory clearance.The merger is designed to sharpen the group’s response to volatile markets, bolster technological capability and keep costs competitive. The combined business will trade under two brands, Hyundai and Develon, focusing on construction equipment while growing its engine and aftermarket divisions.By 2030 the company targets annual revenue of USD 11 billion. Scale benefits will be sought by optimising product lines and assigning regional production specialties. Expansion of the compact machinery range aims to deliver a complete line up from mini to ultra large kit, reinforcing core competitiveness.To widen income streams, HD Construction Equipment will nurture its engine operation and enlarge aftermarket services such as parts replacement and maintenance. Integrated R&D will drive future growth through electrified and smart machines and end to end equipment solutions.Under the share swap terms, each common share in HD Hyundai Infracore will be exchanged for 0.1621707 common shares in the new company.“This merger will power sustainable growth for HD Hyundai’s construction equipment division, strengthening our global position and marking a milestone for Korea’s industry,” said Cho Young cheul, president and chief executive of HD Hyundai XiteSolution.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?