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.

In China, being the first to recognize the potential, establishing a manufacturing presence there, has enabled Hundai to establish itself as the leader in that fast-growing market.

Similarly in Europe, the establishment of the well-equipped, purpose-built central office and factory facilities at Geel, was the key to making an immediate impact on this mature and competitive market.

The rate of progress from this solid base in Europe has been impressive. From a mere 250 units delivered in 1995, the output has grown more than ten-fold, to a rate approaching 3000 units per year in 2005, as the dealer network came on stream. This sustained rate of growth has seen an increase in sales of 33 per cent in 2005, and as the network grows, and Hyundai’s reputation for reliable, cost-effective machines spreads, as well as the continual expansion of the product range, that growth is set to continue.

As well as analyzing the numerical measure of growth in terms of market share, it is instructive to see the formidable presence of the full product range which has been displayed at all of the major trade shows in Europe. It instills confidence, and belief, in the minds of both dealers and customers that Hyundai really is a force to be reckoned with.