Hyundai spins off forklift division
Hyundai Heavy Industries announces the spin off of the Construction Equipment division, which also comprises its forklift operation.
This new company was officially established with the name Hyundai Construction Equipment Co. Ltd on the 1st of April 2017. All activities of HHI’s Construction Equipment division will move to this new company beginning of April.
The move is based on a restructuring plan which began last year and is designed to improve agility and assist independent decision-making in the interest of the industries and markets worldwide.
Despite the fact the new company is named Hyundai Construction Equipment – Hyundai has emphasised that both Forklift and Construction Equipment are given equal footing to grow market share.
