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Hyosung held a tape-cutting ceremony to launch a ultra high voltage transformer plant in Nantong County, Jiangsu Province, China on May 30. The ceremony was attended by Hyosung Vice Chairman Lee Sang-un; Cho Hyun-moon, President of Hyosung’s Power and Industrial Systems PG; Jin Mong-mong, vice chief secretary of Jiangsu Provincial Government, and Jeong Dae-we, Mayor of Nantong, and Jiang Su-san, secretary of Haiyan County.

Nantong Hyosung Transformer has invested 80 billion won to complete the new plant since it launched the project in October 2006. The plant has the capacity to produce transformers equivalent to an annual total of 21,500 MVA per year, and is armed with state-of-the-art facilities and operating systems, including ventilation, dust-prevention, and vacuumed drying facilities.

The Chinese transformer market is projected to grow at the average annual rate of 7 percent per year up to 2016. Notably, demand for ultra high voltage, large capacity transformers for long distance transmission are increasing.

Vice Chairman Lee said, “The completion of the transformer plant is a result of the Company’s globalization strategy. We plan to develop into one of the big three companies in this field in China, and make important contributions to the expansion of power infrastructure in the country.”