News and Updates on Hyundai Heavy Industries Group
HHI Group Signs Definitive Agreement to Acquire DSME
Hyundai Heavy Industries (HHI) Group and Korea Development Bank (KDB) signed on Friday a definitive agreement to acquire Daewoo Shipbuilding & Marine Engineering (DSME), in the presence of Kwon Oh-gap, Vice Chairman & CEO of HHI Holdings; Ka Sam-hyun, President & CEO of HHI; and Lee Dong-gull, Chairman & CEO of KDB.
Hyundai Robotics Teams Up with POSCO ICT to Lead Smart Factory Market
Hyundai Heavy Industries (HHI) Holdings’ robot business has recently signed with POSCO ICT a memorandum of understanding (MoU) to develop smart factory solutions based on industrial robot technology at POSCO ICT’s headquarters in Pangyo, Gyeonggi Province of Korea. The signing ceremony was attended by COO of Hyundai Robotics (the representative brand of HHI Holdings’ robot business) Seo Yoo-seong and CEO of POSCO ICT Son Geon-jae, among others.
HCE to Commercialize Remote Diagnostic Service for Excavators
Hyundai Construction Equipment (HCE) will team up with Cummins Inc., the world’s leading engine maker headquartered in Indiana, USA, to commercialize a remote engine diagnostic service for excavators.
HHI Holdings Reports 2018 Consolidated Financial Results
Hyundai Heavy Industries (HHI) Holdings released on Thursday its consolidated financial results for 2018, highlighted by sales of KRW 27.2636 trillion and operating income of KRW 868.6 billion. For the fourth-quarter, sales were at KRW 7.4351 trillion, but operating income recorded a negative figure of KRW 156.7 billion in losses.
Hyundai Oilbank Secures Investment of Max. KRW 1.8 trillion
Hyundai Oilbank has successfully attracted investment from Saudi Arabia’s state-owned oil giant Aramco in the amount of up to KRW 1.8 trillion.
HSHI Wins $130 Million Order to Build Two VLCCs
Hyundai Samho Heavy Industries (HSHI), Hyundai Heavy Industries (HHI)’ shipbuilding affiliate, announced today that it recently won $130 million worth of order to build two 158,000 ton VLCCs from the European Shipping company.
HHI Completes Building Eco-Friendly Engine Power Plant in Colombia
Hyundai Heavy Industries (HHI) held a ceremony last Saturday in Colombia’s northern city of Santa Marta to celebrate the completion of 'Termonorte' engine power plant, attended by Colombian President Iván Duque; Lee Ki-dong, COO of HHI’s Engine Division, Kim Doo-sik, Korean ambassador to Colombia; and other dignitaries.
HHI Group Exceeds Annual Shipbuilding Order Target
Hyundai Heavy Industries (HHI) Group has over-fulfilled its annual target for shipbuilding orders ahead of the 2018 year-end, recently concluding a contract to build two state-of-the-art frigates for the South Korean Navy.
HCE Embarks on Developing Next-Generation Construction Platform
Hyundai Construction Equipment (HCE) said on Monday it has signed a memorandum of understanding to partner up with SK Telecom (SKT), South Korea’s top mobile operator, and Trimble, a California-based global leader of positioning services, to develop a “Smart Construction” solution. Each party will bring its own expertise to the development, aiming to commercialize the solution by 2020.
HMD Gains Foothold in Small-Scale LNG Carrier Segment
Hyundai Mipo Dockyard (HMD) became Korea’s first shipbuilder to win an order for a small-to-medium-sized liquefied natural gas (LNG) carrier from a foreign shipping company, gaining momentum to pioneer the emerging small-scale LNG tanker segment.