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Hyundai Steel's plant in Mexico to start operation this month

All Headlines 10:18 March 09, 2016

SEOUL, March 9 (Yonhap) -- Hyundai Steel Co., the steelmaking unit of Hyundai Motor Group, will start operating a plant in Mexico this month that will churn out steel necessary to manufacturing vehicles, the company said Wednesday.

The construction of the plant, located in Monterrey, northeast Mexico, will be completed within this month and it will also start to produce cold-rolled steel plates for automobiles after a test operation, according to the company.

The plant is designed to meet the growing demand from automakers including Kia Motors Corp., the largest shareholder of the steel company. Kia Motors, an affiliate of Hyundai Motor Co., runs its production lines in Mexico.

The plant aims to supply Kia Motors with enough cold-rolled steel plates to produce 400,000 cars annually. Hyundai Steel said that it spent US$44 million to construct the facility.

Construction of similar facilities are also underway in Chongqing and Tianjin of China, which are expected to be completed later this year and in the first half of next year, respectively, the company said.

kokobj@yna.co.kr
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