Shareholders approve split of South Korean yard ahead of merger

Despite dissatisfaction among employees, Hyundai Heavy Industries' shareholders have approved a split of the company, a move that marks the first step in the merger with competitor DSME.

Photo: /Ritzau Scanpix/Reuters/Jo Yong-Hak

Shareholders in Hyundai Heavy Industries have approved a split of the shipbuilder, a move that is part of the merger with competitor Daewoo Shipbuilding & Marine Engineering, DSME, reports Yonhap News Agency.

The split, approved at a general assembly Friday, marks the first step in the merger with DSME. The plan is for Hyundai Heavy Industries to be split into two, starting next month, with one of the units being listed on the stock market.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk unveils design of methanol vessels

For five years, Maersk has been working on developing a new vessel design, which can increase the energy efficiency of its fleet by 20 percent. The first eight vessels are planned to sail on green methanol from 2024.

Further reading

Related articles

Latest news

See all jobs