April 26, 2024
Industrials
Hyundai Rotem wins W391b wheeled armored vehicle order
[THE INVESTOR] Hyundai Rotem, the rolling stock and arms manufacturing unit of Hyundai Motor Group, said on Dec. 8 it will build two wheeled armored vehicles for the Korean Army by 2020.
Hyundai Rotem inked the 390.7 billion-won (US$357 million) order with the Defense Acquisition Program Administration and will build the wheeled armored vehicles at its plant in Changwon, about 400 kilometers south of Seoul, the company said in a statement.
The company aims to start exporting the wheeled armored vehicles to overseas markets, such as the Middle East, Latin America and Southeast Asia, next year, it said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
