Hyundai Heavy Industries Pursues Sale of Hyundai Heavy Industries Power Systems
[Asia Economy Reporter Park Soyeon] Hyundai Heavy Industries Group is pushing forward with the sale of Hyundai Heavy Industries Power System, an affiliate specializing in the design and manufacturing of industrial boilers.
According to Hyundai Heavy Industries on the 24th, Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of Hyundai Heavy Industries Group, approved the sale of its affiliate Hyundai Heavy Industries Power System at the board meeting held in June.
The timing and price of the sale have not yet been determined.
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Hyundai Heavy Industries Power System, a boiler specialist company that was spun off from Hyundai Heavy Industries' onshore plant business in 2018, aims to grow into a company with sales of 1 trillion won by 2023.
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