A merger has resulted in the Hyundai and Develon construction equipment brands being supported by a new entity
HD Hyundai Construction Equipment and HD Hyundai Infracore have merged to launch a new entity – HD Construction Equipment.
The combined new company will operate with a dual-brand system, continuing to support both the Hyundai and Develon construction equipment brands.
By 2030, the company aims to exceed USD $11 billion in global sales, positioning itself among the industry’s top-tier players.
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“This merger marks a critical step toward long-term, sustainable growth,” HD Hyundai Site Solution president Cho Young-Cheol says.
“It represents a new chapter in the evolution of Korea’s construction equipment industry and will strengthen our global competitiveness.”
HD Construction Equipment says it will pursue balanced growth across its core business areas, including construction equipment, engines, and aftermarket services, by focusing on the following strategic initiatives:
- optimising product lines and regional manufacturing to achieve economies of scale
- expanding the compact equipment lineup to offer a complete range of construction machinery
- investing in high-growth areas, such as engine technology and aftermarket services
- accelerating innovation through electrification, smart equipment, and integrated total solutions.