Hyundai Heavy Industries Ltd. will be aliquot in six independent divisions



the South Korean Hyundai Heavy Industries Ltd. (HHI), the greatest world-wide navalmeccanico group, has announced today the decision to subdivide the company in six independent divisions with the objective to maintain to own competitiveness and own solidity financial institution. The plan, that it will be put into effect in the course of 2017, previews the constitution of a division dedicated to the shipbuilding, the offshore field and the realization of marine engines and others five divisions dedicated respective at the market electronic electrical worker and to those of the machinery for construction, renewable energies, the robotics and the services.

"Up to now - it has explained a HHI spokesman - we have focused ourselves on the cession of not-Core activity. From now on we will concentrate all our abilities on the development of Core business of each division. The spin-off will be the starting point in order to reach the objectives".

If HHI is planning independently the modalities in order to tackle to the current difficulties crossed from the field of the shipbuilding and from the other industrial markets in which work the South Korean group, compatriot STX Offshore & Shipbuilding Co., than in spring is placed in controlled administration( 30of May 2016), in these days is authorized to put into effect a plan of restructure of the society from the district court of Seul, that it has confirmed to have up to now received proposed from four companies for the acquisition of STX O&S( 4of November 2016) and of being waiting for ulterior eventual offers within the due date for the shipment of interest manifestations that are fixed for next 27 December.

To such purpose, today prints South Korean has announced that a British active trust would have introduced to the district court a letter of attempts in order to acquire STX O&S, enclosed its branch STX France, that it is participated to 66.66% from the South Korean society through the STX Europe and to 33.4% from the French State and that is specialized in the construction of ships from cruise, of military ships, in the segment oil & gas and in the activities of restructure and naval conversion.

For being informed on the last developments of the plan of restructure of STX O&S and on the repercussions on the branch French, this morning the undersecretary to the Industry, Christophe Sirugue, has in program an encounter with the general manager of STX France, Laurent Castaing.