The massive resources of the Hyundai Heavy Industries Co. Ltd. in Ulsan, Korea provide the bed-rock of a global organization which encompasses practically every aspect of heavy engineering. Hyundai’s strengths are firmly established in ship-building, off-shore, power generation and industrial plant, as well as the production of a broad range of Construction Equipment and Forklift Trucks. The Construction Equipment division was initially created in 1985, as part of the Heavy Machine division, but soon gained independence as an autonomous division in 1987. By 1988, the first in-house designed excavators (21t and 29t size) were launched in the domestic Korean market. By 1991, as the product range expanded, the export potential of Construction Equipment was realized, and Chicago branch office was first established, followed in 1993 by the formation of Rotterdam Overseas Inc. in the Netherlands, to spearhead the foray into Europe. In 1995, two further major steps were taken: the establishment of Hyundai Heavy Industries Europe NV at Geel in Belgium, to consolidate the presence in Europe, and also the first steps into China with the formation of the Changzhou Joint Venture.