Hyundai Power Transformers USA Expanding In Alabama

The $33 million investment will result in 86 new jobs at the company's Montgomery, AL facility. 


https://businessfacilities.com/2018/04/hyundai-power-transformers-usa-expanding-in-alabama/
The $33 million investment will result in 86 new jobs at the company's Montgomery, AL facility. 
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Hyundai Power Transformers USA Expanding In Alabama

The $33 million investment will result in 86 new jobs at the company's Montgomery, AL facility. 

Hyundai Power Transformers USA Expanding In Alabama

Hyundai Power Transformers USA, Inc. (HPT) will invest $33 million in an expansion of its Montgomery, AL facility resulting in the creation of 86 new jobs. The expansion project 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.

Montgomery Alabama
Photo: Alabama Department of Commerce

“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,” said HPT President/COO J.S. Kim. “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.”

Hyundai Electric (HE) 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.

“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,” said Alabama Governor Kay Ivey. “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.”

“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,” said Alabama Department of Commerce Secretary Greg Canfield. This expansion will serve to deepen the company’s roots in the state and extend our partnership to a new level.”

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. According to Goulden Report, a market research provider for the electrical industry, the U.S. (12.71 percent) was the second largest transformers market after China (34.57 percent) in 2016.

HE officials have disclosed that they will add additional sales labor force in HPT and reinforce its sales infrastructure, in preparation for future business portfolio diversification- expanding its market exposure to high voltage circuit breakers, rotary machines, power distributors, and energy solutions.

Hyundai Power Transformers began operations in Montgomery in 2011. 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.

Relocating or Expanding Your Business In Alabama

Considering Alabama for your company’s relocation or expansion project? Check out Business Facilities’ Alabama Incentives and Workforce Development Guide.

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