Hyundai Heavy signs US$40m robot supply deal

[THE INVESTOR] Hyundai Heavy Industries announced on July 12 that it signed a US$ 40 million robot supply contract with the Chinese subsidiary of Taiwanese display producer Chunghwa Picture Tubes.

Under the contract, Hyundai Heavy will supply about 300 robots designed for transporting LCD glass panels. 

The robots will be deployed at CPTF Visual Display’s plant in Fuzhou, Fujian province in southeastern China, by the second half of next year, the South Korean company said.

Hyundai Heavy has been developing industrial robots since 1984, and hopes to register sales of 273 billion won (US$ 237.40 million) in robotics this year. Last year, its robotics business recorded sales of 254 billion won.

By Choi He-suk (cheesuk@heraldcorp.com)