HD Hyundai Building Gear and HD Hyundai Infracore will merge to type a brand new entity named HD Building Gear (tentative) with a consolidated income set at KRW 8 trillion (USD 6.15 billion).
The choice to merge was made throughout separate board conferences held by each corporations on July 1.
HD Hyundai Building Gear would be the surviving entity and formally develop into HD Building Gear on Jan. 1, 2026. This can comply with a rare shareholders’ assembly scheduled for Sep. 16, together with needed regulatory evaluations.
HD Hyundai merges items to boost agility in responding to market calls for amid intensifying competitors and world uncertainties whereas strengthening future technological capabilities and making certain value competitiveness.
The newly shaped firm will function below two manufacturers: HYUNDAI and DEVELON. The core enterprise space will probably be development gear, supplemented by progress in engines and aftermarket providers. With balanced progress throughout all enterprise areas, the corporate goals to attain income of KRW 14.8 trillion (USD 11 billion) by 2030, positioning itself as a world business chief.
Furthermore, HD Building Gear will give attention to strengthening elementary progress, diversifying income sources and securing future progress engines via a unified decision-making course of.
HD Building Gear goals to attain economies of scale by optimizing its product traces and specializing manufacturing amenities by area. On the similar time, by increasing its compact gear enterprise, the corporate goals to determine a full lineup starting from compact to ultra-large development equipment, thereby strengthening its elementary enterprise competitiveness.
To diversify income streams, the corporate will give attention to fostering its high-potential engine enterprise and increasing its aftermarket operations, which middle on elements substitute and upkeep. Leveraging its built-in R&D capabilities, the corporate goals to safe future progress engines via the event of electrified and sensible development gear, in addition to complete complete options.
HD Hyundai merges items that may contain an trade of shares: for every widespread share of HD Hyundai Infracore, shareholders will obtain a chosen quantity of widespread shares, 0.1621707 in HD Hyundai Building Gear, the surviving entity.
Cho Younger-cheul, President and CEO of HD Hyundai XiteSolution, said, “This merger will drive sustainable progress for the Building Gear Division of HD Hyundai, serving to us strengthen our place within the world market and serving as a major milestone in advancing Korea’s development gear business.”
