ZF-Passau receives award from Hyundai Heavy Ind
Hyundai Heavy Industries has underlined its excellent and longstanding partnership with ZF by an appreciation award. Through this award, the South Korean construction equipment manufacturer has expressed high esteem for the trustful cooperation with ZF-Passau.
Hyundai’s Senior Executive Vice President, Byeong-Ku Choe, presented the award to Dr. Manfred Schwab, Group Executive of ZF-Passau. On the construction machinery sector, ZF-Passau can look back on a successful cooperation with Hyundai Heavy Industries in South Korea for more than 20 years.
The first components for mobile excavators were supplied in 1989. During the following years, ZF-Passau succeeded in further expanding the business relations with Hyundai. Dr Manfred Schwab sums up: "Currently Hyundai equips nearly all wheel loaders, mobile excavators and lift trucks with ZF transmissions and axles, which are almost exclusively produced and assembled in Passau."
In 2008 ZF-Passau achieved the highest turnover during the business relationship with Hyundai so far.
After the general economic collapse in 2009 which also affected Hyundai, there is an encouraging growth in sales for the year 2010. Hyundai ranks among ZF-Passau’s most important customers for construction machinery components.The success with the Korean manufacturers is attributable to the excellent customer-supplier-relationship over the last decades and to the highly committed ZF representative office in Korea.Technological leadership, product quality and reliability, but also the global approach of ZF are the key factors for the success in South Korea.