Hyundai Steel to Invest $89M for Equipment Demand

July 7, 2011

Hyundai Steel Co., South Korea’s second-biggest steelmaker, plans to spend $89 million by the end of this year to expand assembly capacity of construction equipment parts as demand rises in China and Japan.

Output of track shoe assemblies and the continuous belts that fit over the cogged wheels of excavators will increase 50 percent to 130,000 pairs a year after the investment, Hyundai Steel said in an e-mailed statement.

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Source: Bloomberg