# Hyosung HICO to expand Memphis transformer plant with $51M investment

Hyosung HICO, Ltd announced an expansion of its U.S. manufacturing headquarters in Memphis, Tennessee, investing $51 million and creating 123 new jobs. The company is a subsidiary of South Korean Hyosung Heavy Industries and produces large power transformers.

- Type: Expansion
- Announced: 2025-05-14
- Where: Memphis, Tennessee, United States
- Value: $51.0M
- Jobs: 123
- Status: announced
- Products: large power transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Hyosung HICO](https://endata.com/companies/84743.md)
- [Hyosung Heavy Industries](https://endata.com/companies/5898.md) (partner)

## Sources

- [tn.gov](https://www.tn.gov/ecd/news/2025/5/14/governor-lee--commissioner-mcwhorter-announce-hyosung-hico--ltd-to-expand-at-u-s--manufacturing-headquarters.html), 2025-05-14: "Hyosung HICO will invest $51 million and create 123 new jobs in Shelby County as part of its plans to expand operations at its transformer manufacturing facility."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.