Hyosung Heavy Industries continues to invest in response to the rapidly surging demand for global power infrastructure.    

□ Invested KRW 100 billion in Memphis & Changwon factories to increase ultra-high voltage transformer production capacity by 40% 

Hyosung Heavy Industries announced on the 12th that it will invest in expanding its ultra-high voltage transformer plants in Memphis, USA and Changwon, Gyeongsangnam-do, with a plan of investing almost KRW 100 billion to expand total ultra-high voltage transformer production capacity by 1.4 times. 

The impetus for Hyosung Heavy Industries to undertake a large-scale expansion is that demand for power grid infrastructure is strongly growing globally due to the high power consumption of artificial intelligence, electric vehicles, and semiconductors driven by a rapid rise in their popularity, besides emerging new and renewable power generation in response to climate change.                

Hyosung Heavy Industries is adding a test line and expanding testing and production facilities at its ultra-high voltage transformer plant in Memphis, USA. Upon completing the expansion, the Memphis plant's production capacity will double its current scale.                             

The expansion of the Changwon plant, the mother plant of ultra-high voltage transformers, has also been underway, with plans to significantly increase production capacity by building a new testing laboratory and expanding production facilities.

After completing the expansion of the two plants, Hyosung Heavy Industries' ultra-high voltage transformer production CAPA will increase by more than 40% compared to the current scale. 

□ CEO Tae-hee Woo, “We will secure the lead as a global top-class supplier” 

CEO Tae-hee Woo of Hyosung Heavy Industries said, “We will stay at the forefront of the power equipment super cycle to secure the lead as a top-class supplier in the global market,” and underscored, “We will continue to strive to provide high-quality, sustainable products to even more customers.”

Hyosung Heavy Industries has increased its profits in the U.S. with a focus on advancing the power grid and expanding new facilities, and keeps expanding its dominance in the power market by establishing an environment-friendly power equipment research and development center in Europe in a move to secure new customers. 

In the field of special transformers, the company has also led the global ultra-high-voltage transformer market with its advanced technology, specifically winning of late a large-scale phase-shifting transformer project from National Grid, a British power grid operator. Other regions that it continues to pursue business extensively include Southern and Northern Europe, the U.S., Australia, Africa, and the Middle East.