Hyundai Rotem’s plant in Brazil (Image : Hyundai Rotem)
SEOUL, March 31 (Korea Bizwire) – Hyundai Rotem Co., a train making unit of Hyundai Motor Group, said Thursday that it has completed the construction of a plant in Brazil that will serve as its main foothold to advance into the Latin American market.
The plant on 150,000 square meters of land in Sao Paulo has an annual production capacity of 200 trains, the company said in a press release.
Combined with its two other overseas plants in Turkey and the United States, and one in Korea, Hyundai Rotem now can produce up to 1,200 trains every year, it added.
Hyundai Rotem said that its Brazil plant will help it meet local bidding regulations in which it has to supply at least 60 percent of its products from local purchases or production.
The Brazil plant is also expected to accelerate its advance into other Latin American countries where annual train demand is estimated at around 8 trillion won (US$7 billion).’
(Yonhap)
