Hyundai Construction Equipment Europe (HCEE) says its European HQ is a major milestone towards becoming a top five manufacturer in the global construction equipment market.

Hyundai belgium

Hyundai Construction Equipment CEO Kong Ki-young performs the official opening of the new European HQ in Belgium

The company – which officially opened the Tessenderlo, Belgium, facility earlier this month – invested €30 million (US$35.3 million) in the building as part of its goal to make the global top five by 2023.

And managing director Alain Worp believes the market will have to take note of recent developments at the newly independent HCEE, which was spun off from Hyundai Heavy Industries six months ago.

“The new facility is an excellent step forward for our European division,” he said.

“After becoming an independent business unit earlier this year, the rebranding of the company and the definition of our global vision, this is a clear indication that things are moving fast within Hyundai Construction Equipment.

“It is also a clear signal to the market that we are here – and that we are here to stay in a big way. For me this is only the beginning of our successful path to the future.”

Hyundai Construction Equipment CEO Kong Ki-young performed the official opening, which was attended by management from South Korea, national and regional government representatives and staff from the company’s European dealer network.