Aug 31 2006
Hyundai Corporation has completed the slipway construction of Qingdao Hyundai Shipbuilding Co., Ltd, an acquired shipyard in China, and announced its mid- to long-term development plan.
The newly constructed “number four” slipway has the capacity to build a 25,000 dwt middle-sized ship.
Hyundai Corporation has laid out plans to continuously expand its shipbuilding facilities by the end of this year.
By doing so, the company plans to boost its shipbuilding capacity from seven (six thousand ton grade) ships to 15 (10 thousand ton grade) ships. Qingdao Hyundai Shipbuilding is expecting to record sales of 150 million dollars in 2008 and 250 million dollars in 2012, and thus transform itself into a world-caliber company specialized in small- to mid-sized shipbuilding.
Qingdao Hyundai Shipbuilding’s history dates back to 2004, when Hyundai Corporation acquired Lingshan Shipyard in China, which was the first-of-its-kind acquisition as a general trading company.
So far, the company has been concentrated on modernizing manufacturing facilities and innovating production systems.
In the past, Lingshan Shipyard had mainly handled ship repairing. After acquisition by Hyundai Corporation, however, the shipyard has been shifted its business focus and has transformed into the specialized shipbuilder.
As the shipbuilding facility expansion construction progresses smoothly as planned, the company is expected to be able to meet contracted deadlines for ship delivery, and even deliver ships before deadlines.
http://www.hyundaicorp.com