July 26, 2017
Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it secured KRW (hereinafter ‘won’) 1 trillion to date this year as a part of the KRW 3.5 trillion Management Improvement Plan it has been implementing since June 2016 in an effort to rebuild trust in the market and improve its balance sheet.
Today HHI Group sold its 100% shares in Hotel Hyundai for 200 billion won to Hahn & Company, Korea's leading private equity investment group managing 4 trillion won worth asset. In June this year, Hyundai Samho Heavy Industries (HSHI) also raised 400 billion won from IMM Private Equity via pre-IPO and Hyundai Mipo Dockyard (HMD) secured 350 billion won by offloading its shares in Hyundai Robotics, a holding company of Hyundai Heavy Industries Group.
In April this year, HHI disaffiliated its construction equipment and electro electric systems divisions as Hyundai Construction Equipment and Hyundai Electric & Energy System respectively, both independent corporates now. With all of these comprehensive measures HHI has implemented since June 2016, HHI has lowered debt-to-equity ratio to around 90% from 134% as of the end of the first quarter of 2016.
In the second half of this year, HHI Group continues to accelerate focusing on core businesses by liquidating poor performing overseas offices and incorporate firms including Hyundai Cummins (construction equipment engine) and Jake (wind power gear box), and selling non-core assets including Hi Investment & Securities.
An HHI official said, “With the sell-off of shares of Hotel Hyundai today, we have secured more than 3 trillion won to date this year and achieved about 90% of the 3.5 trillion management improvement plan.”
This is a common typical case of hoisting.(Friends who want to fast forward can skip directly to the end of the article to watch the video.),Because our construction is developing too fast.,Many factories built more than a decade or two ago are facing
September 19,Party Secretary of Shaanxi Construction Machinery Co., Ltd.、Chairman Yang Hongjun, Chairman of Beijing New Future International Trade Co., Ltd.、Accompanied by Fan Cheng, deputy general manager of Shaanxi Cons
Yang Xianjin and His Party Visited Yuchai Nanning Base for Investigation,He also visited alumni working in Yuchai.。Both sides said,Tianjin University and Yuchai Group hav
Recently,China Federation of Industrial Economics(Hereinafter referred to as“China Federation of Industry and Economics”)It was released at the 2nd China Industrial High Quality Development Forum.22 2024 China Industrial Data Governance&ldq
Copyright Notice 2002-2024 global-ce.com Construction Machinery Online. All rights reserved.
Address: Room 901, Building C, Ruipu Mansion, Hongjunying South Road No.15, Chaoyang District, Beijing.100107 P.R.China