Hyundai WIA today announced the commencement of its operations in India. As part of the Hyundai Motor Group, Hyundai WIA produces automotive parts, machine tools and heavy machinery and will set up a plant near Sriperumbudur, Tamil Nadu which will provide employment opportunities to substantial number of people in phased manner.
Speaking on the announcement, Mr. H.S. Lheem, President & CEO, Hyundai WIA, said, "We are extremely delighted to announce the commencement of operations of Hyundai WIA in India. Although we have been providing our products to clients in India for the last four years, the setting up of this manufacturing unit will strengthen our position in the country. India is fast emerging as the global hub for the automotive industry, the new plant in Tamil Nadu will help in catering to the growing needs of this industry."
Hyundai WIA was set up in Korea in 1976 and is the leader of the total machine industry in Korea. The company produces automobile engines (Alpha, Gamma, Kappa, NU engines) and other automotive parts. With the fourth biggest market share in the world for C.V. (Constant Velocity) joints, Hyundai WIA is in the process of developing the futuristic fourth generation C.V. joints.
In the arena of transmissions, Hyundai WIA has the best technology and production background and provides transmissions for all automobiles manufactured by Kia Motors and most of its parts to Hyundai Motor as well.
Well known as an "all-in-one precision machinery maker", Hyundai WIA not only produces automotive parts but has a strong presence in the machine tools, press, plants, and aircraft/defence fields as well. By creating a diversified lineup and machines with various segments such as CNC lathes, vertical/horizontal machining centers, and boring machines Hyundai WIA creates machine tools that have high productivity and efficient operating devices, supplying its machines to manufacturing companies worldwide.
Hyundai WIA has a network of six corporations, 9 offices and one Research and Development centre globally. A state-of-the-art Technical Centre has been set-up in Michigan, USA, while the company's European operations are overseen from Frankfurt, Germany. Operations in Brazil are in the pipeline.
Currently, engine manufacturing plants are located in Pyeongtaek, Korea and Rizhao, China. With a differentiated marketing strategy, they focus on strongly marketing eco-friendly machine tools in the European regions and its large-sized machine tools in North America. In 2011, Hyundai WIA is planning to expand its overseas dealer networks, especially in the newer and faster-growing markets located in South America and south-east Asia, including India.
In 2009, Hyundai WIA registered sales worth USD 3.1 billion in 2009, making it the 65th biggest automotive parts company in the world. With the biggest market share for machine tools in Korea for the last nine years, the company registered sales around USD 5 billion.
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