HD Hyundai Construction Equipment halts production at Changzhou plant in China... consolidates to Yantai plant

HD Hyundai Construction Equipment announced on the 3rd that it has decided to halt production at its Changzhou factory in Jiangsu Province, China.

The existing business volume will be shifted to be consigned to the HD Hyundai Infracore factory, part of the same group, located in Yantai, Shandong Province.

On the same day, HD Hyundai Construction Equipment stated that production at Hyundai Jiangsu Construction Machinery Co., Ltd. (Jiangsu Corporation) will be suspended starting from April.

The company explained, "Although the production activities of the Jiangsu Corporation will be converted to an outsourced consignment production method, sales and export activities within China will continue as before, so we believe there will be no impact on consolidated financial statement sales."

HD Hyundai Construction Equipment added that this move is aimed at streamlining production lines due to a decrease in production volume at the Changzhou factory caused by the contraction of the construction market in China.

The total assets of HD Hyundai Construction Equipment's Jiangsu Corporation amount to approximately 221.4 billion KRW, representing 6.6% of the consolidated total assets.

This content was produced with the assistance of AI translation services.