Hyundai Power Transformers USA Expands Montgomery, Alabama Factory
Construction for the expansion of the HPT facility at 215 Folmar Parkway in Interstate Industrial Park will begin in July of this year with expanded production commencing in December 2019.
The expansion will enable the company to establish a "Smart Factory" and increase production of its power transformers by more than 60 percent. The expansion will include a newly-constructed training facility that will contribute to fostering an advanced labor force, taking the company one step closer to achieving its plan of generating $200 million in revenue by 2021.
Hyundai Electric recently announced that it is acquiring 100 percent ownership of HPT from Hyundai Heavy Industries to accelerate its strategic approach towards the U.S. transformer market. Hyundai Electric acquired facilities in Bulgaria and China earlier this year.
HPT is Korea's first production plant established in the U.S. within the electric power industry. It currently employs 300 people and can produce 14,000 MVA annually, or 80 units of power transformers.
"HPT is proud of the mutual support and progress in the ongoing relations of HPT and the City, County of Montgomery, and State agencies in providing both technical and production job opportunities in Alabama. The power transformers produced at HPT requires a highly technical developed workforce. HPT supports the state's workforce development planning and activity. The two- and four-year schools constantly have dialogue with HPT in relation to new methods of workforce development. Alabama Industrial Development Training (AIDT) has been instrumental in the technical development of the ongoing HPT workforce development to date. AIDT is among the highest quality workforce development programs in the US,” said HPT President & COO J.S. Kim.
"I am always thrilled to see a company expand in Alabama because that means they have found success thanks to a talented workforce and all the other advantages our state has to offer. Hyundai Power Transformers is making a significant investment in its Montgomery operation and adding to its workforce, which tells me the company's Alabama operation is thriving,” said Alabama Governor Kay Ivey.
"We have worked hard to develop long-lasting relationships with Korean companies, so it's great to see Hyundai Power Transformers move ahead with a plan to expand the production capabilities of its Montgomery facility. This expansion will serve to deepen the company's roots in the state and extend our partnership to a new level,” Secretary of the Alabama Department of Commerce Greg Canfield said.
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