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Lost damage suit hits Samsung with large deficit

A legal battle between EnscoRowan has led to a massive second quarter deficit for Samsung Heavy Industries, which continues to lose money from its core business. Rivals DSME and HHI are currently working to merge into one company.

Photo: Ho / Reuters / Ritzau Scanpix

The damage suit lost to former Ensco has been expensive for one of the world's largest shipbuilders, Samsung Heavy Industries (SHI).

The South Korean yard group booked a second quarter net loss of KRW 309.4 billion (USD 261 million), more than double last year's KRW 142.7 billion, reports Yonhap News Agency.

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