DSME to Spin off IT Biz Unit

Maritime Activity Reports, Inc.

December 2, 2016

Photo: Daewoo Shipbuilding & Marine Engineering Co. (DSME)

Photo: Daewoo Shipbuilding & Marine Engineering Co. (DSME)

 Daewoo Shipbuilding & Marine Engineering Co. (DSME) plans to spin off its IT business unit next year in an effort to streamline its business structure, reports Yonhap.

The unit, provisionally named DSME Information System, will be started on Jan. 1, the company said. The company will manage DSME’s IT system and related tasks with some 150 employees, it said.
The planned spinoff is part of the shipyard's restructuring schemes which include asset sales and a reduction in workforce.
Last month, Daewoo Shipbuilding said it would secure an additional 700 billion won through asset sales, raising the total amount prepared as part of its self-rescue measures to 6 trillion won.
The shipyard aims to reduce the number of its employees by some 20 percent to 10,000 by the end of this year.
Maritime Reporter E-News subscription

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

Subscribe for Maritime Reporter E-News