Hyundai Electric expanding its U.S. plant at $30M
South Korea, Seoul: Hyundai Electric & Energy Systems Co. announced it will invest $30 million in the expansion of its power transformer plant in the United States.
The expansion of the Alabama plant will be completed by the end of this year and will increase the annual power transformers production capacity from 80 to 130, reports Yonhap News.
The move is an aim to counteract the recently imposed heavy anti-dumping duties by the U.S. Commerce Department.
Source: Yonhap News