HYUNDAI HEAVY INDUSTRIES CO.,LTD.
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Hyundai Heavy Industries Co., Ltd. (HHI), headquartered in Ulsan, South Korea, is an integrated heavy industries company active in six core divisions: shipbuilding, offshore and engineering, industrial plant and engineering, engine and machinery, electro electric systems, and construction equipment. The company was founded in March 1972 by the late Chung Ju-yung.
HHI’s Shipbuilding Division is the world’s number one shipbuilder, leading the global shipbuilding industry with a 15% share of the market. Its shipyard is located in Mipo Bay in Ulsan, South Korea and it has nine large-scale dry docks with six huge ‘Goliath Cranes’. This division is capable of building all types of ships to meet various demands from its clients, including LNG carriers, submarines, destroyers, frigates, container ships, chemical tankers, Ro-Ro ships, pure car carriers, and LPG carriers. The Offshore and Engineering Division operates the world’s largest offshore yard, covering more than 229 acres, including a 156-acre assembly yard and a 73-acre fabrication shop. This division provides clients with fully-integrated services as an EPC (Engineering, Procurement, Construction) contractor of offshore oil & gas facility projects. This division provides floating units, fixed platform, pipelines and subsea facilities, and offshore installations. The Industrial Plant & Engineering Division carries out industrial plant projects for power generation, desalination, and oil & gas processing on a turnkey basis. Its full line of services encompasses all phases of project implementation including engineering, procurement, fabrication, construction, commissioning, operation, and training. The Engine & Machinery Division is the world’s largest marine diesel engine builder with approximately 35% of global market share. This division is also a leading provider of propellers and crankshafts for the shipbuilding industry. Its products include consumable engine parts, industrial and marine pumps, presses, conveyor systems, marine steam turbines and turbochargers, two- and four-stroke diesel engines. The Electro Electric Systems Division provides turnkey solutions in power industries covering design, engineering, manufacturing, installation, and commissioning of major electrical systems in power plants, substations, locomotives, subways, and marine vessels. This division’s product portfolio includes a wide spectrum of electrical equipment such as gas insulated switchgears (GIS), transformers, high voltage circuit breakers, motors, generators, instrument & control systems, power electronics, and renewable energy. The Construction Equipment Division manufactures and distributes a full line of construction equipment and industrial vehicles including excavators, wheel loaders, forklifts, and skid steer loaders. This division’s manufacturing plants are located in South Korea, India, and China. This division has international offices in Chile, Columbia, Panama, Turkey and United Arab Emirates.
HHI aspires to become a global leader in the heavy industries fields. To achieve this goal, the company will adhere to its core business philosophy of stable growth, technological innovation, and internal harmony and cooperation.
Firm posted the record high performances, thanks to shipbuilding ability expansion and sales upbeat in the construction equipment and electrical and electronic systems amid favorable tune in shipbuilding sector. Despite cost burden and sluggish plant sector, firm posted over 10% earning ratio, deriving from increase in gain on valuation of investments using the equity method according to high growth trend, interest income and favorable tune in affiliates’ performances. Though financial stability went down, because of acquisition of buy-backs and loss on valuation of derivatives related to forward exchange, it is still superior in view of actual non-borrowings state with ample cash assets. Firm maintains solid order receipt including top order winning in overall ship types, as No.1 shipbuilder, despite sluggish shipbuilding order worldwide, and nonshipbuilding sector’s favorable tune is added in the engine and electrical and electronic sectors. Cost increase burden is offset by own procurement of engines, and firm is expected to maintain superior earning structure, thanks to improvement of ship types and productivity. Firm’s superior cash creation is forecast to continue, in view of inflow of advanced receipt stemming from order receipt uptrend and rising trend of average ship order prices.
Description and history
Founded by the late Chung Ju-yung
An integrated heavy industries company active in six core divisions: shipbuilding, offshore and engineering, industrial plant and engineering, engine and machinery, electro electric systems, and construction equipment
BEIJING HYUNDAI JINGCHENG CONSTRUCTION MACHINERY CO., LTD.
Korea Exchange Bank
US SIC Code
DONG-GU, ULSAN 682-813
City province or state postal code
Country address: KOREA REPUBLIC OF
Website url: www.hhi.co.kr