Hyundai Heavy Industries Co has separated its Construction Equipment (CE) division into a new company, Hyundai Construction Equipment Co., Ltd. According to the company, the spin-off is based on a restructuring plan which was started last year. For the CE division this spin-off offers great possibilities and an improved agility. The newly established mother company will be able to make independent decisions in the interest of the industries and markets worldwide. Despite the fact the new company is named Hyundai Construction Equipment, it emphasises that both forklift and construction equipment are equally managed with the same goal to grow the market share.