USA, Tennessee, Memphis: Hyosung Heavy Industries has announced a $157 M investment to expand its power transformer plant in Memphis, Tennessee, increasing production capacity by more than 50 % by 2028. Combined with previous investments, the total $300 M makes the Memphis facility the largest transformer production site in the United States.
The expansion follows the vision of Chairman Cho Hyun-Joon, who aims to position Hyosung at the forefront of the AI-era power infrastructure market. The Memphis plant is currently the only US facility capable of designing and manufacturing 765 kV power transformers, which offer higher efficiency and reduced transmission losses compared with conventional 345 kV or 500 kV units.
“This expansion strengthens our ability to deliver advanced power solutions and solidifies our leadership in the global transformer industry,” said Chairman Cho. He highlighted the importance of combining equipment manufacturing with comprehensive power flow, storage, and stability management.
Hyosung’s Memphis facility, acquired in 2020, has benefited from Cho’s strategic leadership and long-term commitment to the US market. The chairman has met with key energy and tech leaders, including US Secretary of Energy Chris Wright, Oracle CEO Safra Catz, and Tennessee Governor Bill Lee, to explore industry innovation and collaborative opportunities.
With the third-phase expansion, the Memphis plant will not only set a new benchmark for production capacity but also enhance technological capabilities and local supply reliability, reinforcing Hyosung’s status among the global power equipment industry’s Big Four.
Source: PR Newswire
