Hyundai Power Transformers USA, a subsidiary company of Hyundai Heavy Industries has completed plant construction and began production the first of November 2011.
The plant located at 215 Folmar Parkway Montgomery, Alabama consists of 1,393,920 square feet of space, and will employ approximately 500 people. The facility which has an initial investment of 108 million dollars was completed in record time. The average life span of a transformer is 30 years, and 60 percent of the market is 20 years old or older and will soon be in need of repair or replacement. Utility companies have already voiced a need for suppliers here in America, and Hyundai Power Transformers USA plans on becoming that supplier.
HPT's parent company, Hyundai Heavy Industries ("HHI") which is the world's largest shipbuilder and a worldwide leader in the power industries expanded into the State of Alabama in November 2011 by investing $108 million to open HPT's power transformer plant in interstate park in Montgomery under the project agreement by and among The State of Alabama, The City of Montgomery, Montgomery County, The Industrial Development Board of the City of Montgomery, and HPT.