Marine Link
Monday, October 24, 2016

Hyundai Engineering Falls on Concerns of Sale Delay

January 8, 2008

Hyundai Engineering & Construction Co., fell the most in almost five months in Seoul on concern Korea Development Bank may delay selling its stock in the company, holding up expansion plans, according to Hyundai Engineering declined 7.5 percent to close at 89,500 in Seoul. Daewoo Shipbuilding & Engineering Co., also part-owned by state-owned Korea Development Bank, fell 5.2 percent to 44,550 won, the biggest drop in more than a month. The delay may stem efforts by Hyundai Engineering and Daewoo Shipbuilding to win orders from the global surge in demand for power plants, refineries and ships. Korea Development Bank and other South Korean creditors had planned to start selling their stakes in the two companies last year. Korea Development Bank, together with state-owned Korea Asset, own 50.4 percent of Daewoo Shipbuilding. Korea Exchange Bank and other creditors own a combined 57 percent of Hyundai Engineering.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News