As STX Heavy Industries is being acquired by HD Korea Shipbuilding & Offshore Engineering (HD KSOE), its name will be changed to “HD Hyundai Marine Engine.”
Shareholders Meeting
According to industry sources on July 16, STX Heavy Industries will hold a shareholders’ meeting on July 30 for partial amendments to its articles of incorporation and the appointment of internal and external directors. Through this shareholders’ meeting, STX Heavy Industries will change its name to HD Hyundai Marine Engine and be integrated as a subsidiary of HD KSOE.
HD KSOE expects synergies from the acquisition of STX Heavy Industries, including expanding production capacity for large two-stroke engines, enhancing cost competitiveness through localization of key components, and sharing overseas sales networks.
Did you Subscribe to our daily newsletter?
It’s Free! Click here to Subscribe
Source: Businesskorea
