Heavy Equipment
HD Hyundai Merger Targets $11B Revenue Milestone
Hyundai and Develon to stay separate under one umbrella.
HD Hyundai Construction Equipment and HD Hyundai Infracore will merge to create a new entity, HD Construction Equipment, as part of efforts to double their revenue.
HD Construction Equipment is expected to operate Hyundai and Develon as separate brands under a single corporate umbrella.
The company expects the new entity to generate $6.2 billion in combined revenue, with ambitions to nearly double that figure to $11 billion by 2030.
The merger, announced following board meetings held separately by the two units on 1 July, will undergo further shareholder approval at an extraordinary general meeting slated for 16 September. Regulatory reviews are also in progress.
HD Hyundai said the merger would help the company react more quickly to shifting market trends and global challenges. It explained the move was needed due to “intensifying competition and global uncertainties.
The unified company will prioritise its construction equipment operations while driving growth through engine manufacturing and aftermarket services.
Plans are also in place to streamline product lines and regionalise production facilities, thereby achieving greater economies of scale.
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Another major focus will be expanding its compact equipment range, enabling HD Construction Equipment to offer a full spectrum of machinery—from small-scale models to ultra-large units. The group is also placing strategic emphasis on research and development, particularly in electric and smart construction technologies.
“This merger will drive sustainable growth for the Construction Equipment Division of HD Hyundai, helping us strengthen our position in the global market and serving as a significant milestone in advancing Korea’s construction equipment industry,” said Cho Young-cheul, president and CEO of HD Hyundai XiteSolution.
The merger brings together two key units of HD Hyundai to build a stronger operation, better positioned to meet global demand and stay resilient in a fast-changing industry.
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