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Hyundai Steel’s Mexico plant to start running this month
By Korea HeraldPublished : March 9, 2016 - 11:06
Hyundai Steel, the steelmaking unit of Hyundai Motor Group, will start operations of a plant in Mexico this month, the company said Wednesday.
As soon as the plant is completed within this month, it will run a test operation before churning out cold-rolled steel plates for automobiles, according to the company.
The plant is designed to meet the growing demand from automakers including Kia Motors, the largest shareholder of the steel company. Kia Motors, an affiliate of Hyundai Motor, runs production lines in Mexico.
The plant will be supplying Kia Motors with cold-rolled steel plates for up to an annual 400,000 cars. It cost Hyundai Steel $44 million to construct the facility.
Construction of similar facilities are also underway in Chongqing and Tianjin of China, which are expected to be completed later this year and in the first half of next year, respectively.
(khnews@heraldcorp.com)
As soon as the plant is completed within this month, it will run a test operation before churning out cold-rolled steel plates for automobiles, according to the company.
The plant is designed to meet the growing demand from automakers including Kia Motors, the largest shareholder of the steel company. Kia Motors, an affiliate of Hyundai Motor, runs production lines in Mexico.
The plant will be supplying Kia Motors with cold-rolled steel plates for up to an annual 400,000 cars. It cost Hyundai Steel $44 million to construct the facility.
Construction of similar facilities are also underway in Chongqing and Tianjin of China, which are expected to be completed later this year and in the first half of next year, respectively.
(khnews@heraldcorp.com)
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Articles by Korea Herald
