Hyundai Hysco

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Hyundai Hysco
Type Public
Korea Exchange (010520)
Industry Steel
Founded 1975
Headquarters Ulsan, South Korea
Key people Sung-Jae Shin
(President and CEO)
Products Cold Rolled Steel, Steel Pipes, Auto Lightweight Products
Revenue Increase 8,170 billion KRW (2011)[1]
Operating income Increase 435 billion KRW (2011)[1]
Net income Increase 298 billion KRW (2011)[1]
Total assets Increase 4,721 billion KRW (2011)[1]
Total equity Increase 1,634 billion KRW (2011)[1]
Employees 1,395 (2011)
Parent Hyundai Motor Group
Website http://www.hysco.com

Hyundai Hysco, or HYSCO is a steel and auto parts company, established in 1975, and headquartered in Ulsan, South Korea. They are a manufacturer of automotive steel sheet products and various steel pipes. Its corporate office is located in Seoul, and it also operates in Ulsan, Dangjin, and Suncheon in South Korea with global operations worldwide. Currently, Hyundai Hysco operates three works in Korea, seven overseas processing centers, and five overseas offices internationally.

History

Hyundai Hysco was established under the name Kyung-il Industrial Co., Ltd. in 1975. The company was renamed to Hyundai Pipe Co., Ltd. in 1980 soon after the completion of its full-scale steel pipe plant in 1979. As a scheme to be a leading steel company in the global market, the company was renamed once again to Hyundai Hysco in February 2001.

Two years after the steel pipe plant was built, Hyundai Hysco was awarded the 'US$100 Million Export Tower' in November 1982. In 1997, the company set a new record in the steel industry by producing over 10 million tons of steel pipes in 1997.

For over 20 years, Hyundai Hysco has been the leading company in the Korean steel pipe industry. After taking the largest market share in the steel pipe industry, they entered the market for cold rolled products, which require the highest level of technology among other sectors of the steel industries. Hyundai Hysco has begun the commercial production of cold rolled products in April 1999. Since then, Hyundai Hysco set numerous records in the area of cold rolling, rewriting the history of Korean steel industries. Hyundai Hysco's achievements include the building of a full capacity system in less than one year from the commencement of commercial production and producing 5 million tons of automotive steel products in five years. In 2004, Hyundai Hysco took over an old and standtill works, Hanbo Steel, in Dangjin, in a consortium with Hyundai Steel. By taking over the old and abandoned works and successfully completing the normalization in 2006, Hyundai Hysco not only build the 4 million tons of cold rolling capacity per year, but also contributed to the Korean economy.

Hyundai Hysco became the leading manufacturer of automotive steel products in Korea by implementing a wide range of new technologies and developing future-oriented products. Through the production of cold rolled products for cars and high-value added pipes using hydroforming technology, Hyundai Hysco is now becoming a major company in the international arena.[citation needed]

Operations

Suncheon Works

Suncheon Works started commercial operation in February 1999. It is a high-tech factory with an annual cold rolling capacity of 1.8 million tons. It is located in the Yulchon Industrial Complex in Jeonnam, Korea, and is equipped with state-of-the-art manufacturing facilities for 1.8 million tons in annual capacity.[citation needed]

Main Product

Main products are 750,000 tons cold-rolled steel sheets, 440,000 tons electro galvanized steel sheet, 270,000 tons hot-dip galvanized steel sheet, 160,000 tons painted galvanized steel sheet, and 180,000 tons picked & oiled steel sheets annually, all high-value added products used for automobiles, home appliances and construction materials. These steel products are closely related to our everyday life, and feature high strength, high corrosion-resistance and flat and beautiful surfaces.

Suncheon Works Features

Suncheon Works features a 1.2 million ton continuous annealing line, the largest single facility in the world, and boasts fully automatic control systems, computer integrated manufacturing, and automated material flow as well as ISO certification, KS certification and JIS certification of Japan. In addition, they have concluded a technical collaboration agreement with Kawasaki Steel and Iron of Japan for the development of Korea's cold rolling industry, particularly for use in the automotive realm. This strategic alliance will be a stepping-stone to enhance national competitiveness in cold-rolling-related sectors.

Dangjin Works

Dangjin Works, located in Chungnam, Korea, has an annual cold rolling capacity of 2 million tons for products in the automobile, home appliances and construction industries.

Ulsan Works

The Ulsan Works has set a record of producing 10 million tons of steel pipes in July 1999. It obtained ISO 14001 and 9001 for the first time in the field of steel pipe manufacturing after expanding the facilities to include the latest welding and automation systems.

Overseas Works

Overseas Operation Main Features
○ Beijing Hysco

● Sales (’06) US$ 140.8 Mil./142,000 Ton
● Operation Since November, 2003
● Facilities

Facilities Capacity
Slitter 1 unit 75,000
Shear 1 unit 40,000
Mini-Shear 1 unit 13,000
Blanking 1 unit 40,000
TWB 1 unit 1,100 sheets
○ Hysco America (located in Alabama)

● Sales (’06) US$ 163.3 Mil./155,000 Ton
● Operation Since August, 2004
● Facilities

Facilities Capacity
Slitter 1 unit 75,000
Shear 1 unit 40,000
Blanking 1 unit 40,000
TWB 1 unit 1,820 sheets
○ Hysco Slovakia

● Sales (’06) US$ 11.4 Mil./11,000 Ton
● Operation Since October, 2006
● Facilities

Facilities Capacity
Slitter 1 unit 75,000
Shear 1 unit 40,000
Blanking 1 unit 40,000
TWB 2 units 1,100 sheets
○ Yancheng Hysco

● Operation Since January, 2007
● Facilities

Facilities Capacity
Slitter 1 unit 75,000
Shear 1 unit 40,000
Mini-Shear 1 unit 13,000
Blanking 1 unit 40,000
TWB 1 units 1,100 sheets
○ Hysco India (located in Chennai)

● Operation Since August, 2007
● Facilities

Facilities Capacity
Slitter 1 unit 75,000
Shear 1 unit 45,000

Brief history

1970

1975.03 Established Kyung-il Co.,Ltd.

1979.05 Completed construction on the steel pipe mill

1980

1980.05 Changed name to Hyundai Pipe co.,LTD.

1981.10 Obtained mill approval by Lloyd's Register of Shipping

1981.11 Received One Hundred Million-Dollar Export Award

1990

1997.04 Started construction on the cold rolling mill

1999.03 Completed construction on the cold rolling mill

2000

2000.11 Received Three Hundred Million-Dollar Export Award

2001.01 Changed company name to Hyundai Hysco

2003.11 Completion of Beijing Factory

2004.10 Opening of Dangjin Factory

2004.11 $500 Million Export Award

2005.01 Exceed 10 million tons cold rolled steel sheet production

2005.05 Started commercial production of Hydroforming product

2006.01 Completed establishment of PCI system

2006.08 Completion of Dangjin Factory

2006.11 $700 Million Export Award

2007.01 Completion of Jiangsu Factory(China)

2007.08 Completion of India Factory

2007.11 $1 Billion Export Award

2008.01 Transferred to Seoul Jamwon Office Building

Competitors

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "2011 Business Results". Hyundai Hysco. Retrieved 9 February 2012. 

External links

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