STX Engine Overview
Company Headquarters: South Korea
Founded: 1976
Workforce: ~3,000
Company Working: STX Engine, a subsidiary of STX Corporation is engaged in the manufacturing of diesel engines for shipping industry, military and defense and energy & utilities. The company operates through various business areas, such as marine engine, stationary power generation engine, military diesel engine, electronic communication equipment, and engine parts & service. The product marine diesel engine fall under the marine engine business area. For engines, the company provides technical assistance, field services, on-board disassembly/assembly, engine modification, engine performance optimizing service, and more. It has global presence in Europe, Asia, and South America and more than 20 distributors in South Korea. Additionally, it offers services, such as replacement of spare parts, engine maintenance, and other critical technical parameters for optimal engine performance.
Strategy
As part of its key strategy, STX Engine is expanding its customer base and catering products for various sectors. This would help the company increase its market share in the marine diesel market.
Furthermore, it is seeking strategic partnerships for expanding in global markets. Additionally, the company is increasing its research & development efforts in terms of technology development, automation, and less fuel consumption. For instance, STX Engine signed an agreement with Korean Register (KR) for the study of technology development for a medium speed engine
