Hyundai Heavy Industries Co., Ltd. Overview
Company Headquarters: Ulsan, South Korea
Founded: 1972
Workforce: ~ 16,000
Company Working: Hyundai Heavy Industries Co., Ltd is a multinational company, primarily focused on shipbuilding market. The company operates through five business divisions, namely shipbuilding, special & naval ships, offshore & engineering, industrial plant & engineering, and engine & machinery. Marine diesel engines are offered under Hyundai Heavy Industries Co., Ltd Energy & Machinery Division (HHI-END), which also manufactures propellers, cargo oil pumps, ballast water treatment systems, side thrusters. HHI-EMD manufactures engines that are offered under its own engine brand, HiMSEN. . Additionally, it considers research & development for improving operating reliability, performance, and developing environment-friendly engines, which have less carbon emissions.
Hyundai Heavy Industries Co., Ltd has more than 20 subsidiaries, such as Hyundai Samho Heavy Industries Co., Ltd., Hyundai (Jiangsu) Construction Machinery Co., Ltd., Hyundai Transformers and Engineering India Pvt., Ltd., and Hyundai Ideal Electric Co. in North America, Europe, Asia, and Africa. The company has more than 40 offices, across the globe.
Strategy
The company adopted expansion and investments as the key strategies to increase its market share in the marine diesel engine market. For instance, in 2016, the company invested approximately USD 35 million into the joint venture, Wärtsilä-Hyundai Engine Company Ltd. for the manufacturing, assembly and testing of marine engines in South Korea. Furthermore, the company is increasing its focus on expanding its business in regions, such as the Middle East & Africa, South America and Europe.
