December 2012 / IMTS 2012 Roundup
Hyundai WIA targets “top five”
Hyundai WIA focused on “Reaching New Heights.” The machine tool builder has expanded its range of machine tools from 40 major types, offered in 2005, to more than 100 major types today. Hyundai WIA is also investing in its R&D capabilities, production output and customer outreach as part of its plan to become a top-five machine tool brand. The company is expanding its R&D center in Eiwang, South Korea. Hyundai WIA is also expanding its production capacity in Changwon, South Korea.
These investments will bring Hyundai WIA’s annual production capacity from just over 8,600 to 14,600 machines. As a result, Hyundai WIA’s global revenue for machine tools is expected to grow from $1.2 billion to $1.8 billion by 2016. Hyundai WIA’s total revenue for all industrial goods produced was more than $6 billion in 2011. Hyundai WIA is also building several technology centers in key markets, including the U.S. (Chicago), Brazil, Germany, India and China.
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