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Samsung Heavy Industries

Samsung Heavy Industries Co., Ltd. (SHI; ) is a South Korean shipbuilding company and part of the Samsung Group. It is one of the "Big Three" shipbuilders of South Korea, along with Hanwha and Hyundai. The company's primary activities include the engineering and construction of commercial vessels including container ships, LNG carriers, oil platforms, drill ships, and floating production storage and offloading (FPSO/FSO) units.

The company’s main shipyard is located in Geoje, South Korea, and includes three dry docks and five floating docks. SHI also operates ship block fabrication facilities in Ningbo and Rongcheng, China, as well as a design center in India.

History

Samsung Heavy Industries was established in 1974, when the company's Changwon plant was opened. SHI soon purchased Woojin, followed by the construction of Geoje shipbuilding facilities and merger with Daesung Heavy Industries.

Samsung Shipbuilding and Daesung Heavy Industries were merged under Samsung Heavy Industries in 1983. Since then, it has put efforts in the introduction of new technologies and development of products, while expanding the business area into heavy equipment and construction.

Since the 21st century, SHI began to build LNG and large passenger ships in earnest, and exported shipbuilding technologies to the United States. Samsung Heavy Industries decided to advance into the cruise ship market, the last remaining stronghold of EU shipbuilders. The company stated entering the undertaking was necessary to maintain its number one position in the global shipbuilding market.[4] In 2009, SHI was contracted to build a new residential cruise ship named Utopia, which will be the largest passenger ship ever assembled in Asia. The ship will test the waters by 2016.[5]

Vehicle production

Starting in the late 1980s, SHI produced forklifts and heavy equipment (mainly excavators) at Changwon.[6][7] The forklift production was established through agreements with Clark Material Handling Company (production started in 1986) and the heavy equipment production came from the construction equipment division of Korea's Heavy Industries and Construction, acquired by Samsung in 1983 (SHI began manufacturing heavy equipment in 1987).[6][8] Truck production was added in May 1993.[9] The company also assembled electric car prototypes.[10] The truck production business was spun off in 1996 as a separate company called Samsung Commercial Vehicles.[11][12][13] The forklift and heavy equipment businesses were sold off in 1998.[6][7]

Wind turbine manufacture

Samsung Heavy Industries has been involved in wind turbine manufacture including the S7.0-171 turbine, which in 2013 was the world's largest wind turbine.[14][15] It is still one of the most powerful turbines on Earth.

See also

External links

References

  1. Samsung Heavy Industries Co., Ltd. Nikkei Asia, retrieved 4 June 2016^
  2. Welcome to Samsung Heavy Industries retrieved 3 April 2008^
  3. 기업재무정보 접속장애^
  4. SHI Opens an Era of Cruise Shipbuilding in Korea Samsung Heavy Industries, 2 December 2009, retrieved 11 January 2015^
  5. A Cruise That Never Ends Forbes, 1 December 2009, retrieved 1 March 2010^
  6. Construction Equipment Division of Samsung Heavy Industries Signs Letters of Intent with Volvo Construction Equipment and Clark Material Handling Samsung, 19 February 1998^
  7. Mikyung Yun. Economic Crisis and Corporate Restructuring in Korea: Reforming the Chaebol Cambridge University Press, 2003^
  8. Ki-Yul Kwon. A study on cross-border M&A and FDI policy in Korea kdevelopedia.org, retrieved 9 October 2017^
  9. Annual Report 1996 Samsung^
  10. Oles Gadacz. Samsung introduces its 1st car an electric Automotive News, 20 June 1994, retrieved 11 June 2016^
  11. http://response.jp/article/2000/12/12/6063.html Response.jp, 12 December 2000, retrieved 8 June 2016^
  12. David R. Whitby. Synthetic Lubricants And High-Performance Functional Fluids, Revised And Expanded CRC Press, 1999^
  13. Gweon-sam Hong. Truck Firm Files For Bankruptcy Korea JoongAng Daily, JoongAng Ilbo, 24 November 2000, retrieved 15 September 2016^
  14. Securing the World's Largest Wind Turbine retrieved 22 September 2018^
  15. The world's 10 biggest wind turbines January 2014, retrieved 22 September 2018^