Samsung Heavy Industries books operating deficit in Q2

The entire South Korean shipyard industry is in the midst of a crisis and Samsung Heavy Industries is no exception. The yard booked an operating loss in the second quarter 2016, where the ongoing restructuring played an important role, writes The Korea Herald.

Photo: Ole Lind

Major South Korean shipyards are struggling with weak demand and this also applies to Samsung Heavy Industries, which delivered an operating loss in the second quarter 2016, as the company undergoes a big restructuring in order to survive the crisis.

Samsung Heavy booked an operating loss of USD 253.18 million in the three months April-June 2016, informs The Korea Herald, and this is mainly due to workforce restructuring costs, the company writes in the interim report Friday.

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