Investment adds to continued job growth in the region
Montgomery, AL - April 17, 2018 -
Hyundai Power Transformers USA, Inc. (HPT) has announced a $33 million expansion of its Montgomery facility resulting in the creation of 86 new jobs. The expansion 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.
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.
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 of electrical industry, United States (12.71 percent) was the second largest transformers market after China (34.57 percent) in 2016.
Officials in HE 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. The expansion of HPT will bring 86 additional jobs to Montgomery. Those interested in applying can email email@example.com.
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.
"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. 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." – HPT President/COO J.S. Kim
"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. 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." – Alabama Governor Kay Ivey
"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. This expansion will serve to deepen the company's roots in the state and extend our partnership to a new level." – Secretary of the Alabama Department of Commerce Greg Canfield
"Hyundai Power Transformers' expansion marks another milestone in our longstanding partnership. We wish the company continued success in its home of Montgomery and remain committed to helping grow its production here." – Montgomery Mayor Todd Strange
"We congratulate Hyundai Power Transformers on its growth and are thankful for the company's partnership, continued investment in the region and job creation in the great State of Alabama." – Montgomery County Commission Chairman Elton Dean
"We are honored to be home to the only North American Hyundai Power Transformers facility. We've been proud to have HPT as a part of our community for the past seven years, and we are excited to see how they will continue to grow here in Montgomery." – 2018 Montgomery Chamber Chairman Judge Charles Price
ABOUT HYUNDAI POWER TRANSFORMERS USA
Hyundai Power Transformers utilizes the most recently developed technology and design to create power transformers that fit the customers various requirements. The product lines of the plant include an oil immersed transformer, a dry type transformer, a cast resin transformer, and a special type transformer. The newly constructed Hyundai Power Transformers USA facility has the ability to become the leading plant in the power industry due to its highly developed technology and proven commitment to building the best product line for its customers. For more information, visit www.hhiamerica.com
Montgomery, Alabama fosters a business-friendly environment and understands that a healthy mix of large and small businesses constitutes the lifeblood of the city and region. A long history of trusted public-private partnership between the city, county and local business leadership creates an inviting business ecosystem. Montgomery is built on a dynamic history rooted in revolution as the center of both the Civil War and the Civil Rights Movement. It is steeped in Southern tradition and hospitality, yet it is also a modern city on the forefront of cutting-edge development. It is attracting new businesses with its open internet exchange and opportunities for business growth, and new residents are coming for the city's livability, including a revitalization of the historic downtown along Dexter Avenue with new attractions and diverse entertainment options. For more information, visit www.choosemontgomery.com