Hyundai Heavy Industries (HHI) entered into a cooperation with US-based engine maker Cummins on Friday to establish a joint venture company Hyundai Cummins Engine Company, Seatrade Asia online reports.
The new joint venture will produce engines for construction machinery and operations will commence in 2014.
HHI and Cummins have agreed to a 50:50 investment totalling $66m.
HHI, the world's largest shipbuilder, plans to expand its marine engine business into construction-machinery and generator engines through this investment with Cummins.
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