HYUNDAI Heavy Industries (HHI) won the US$15 billion Export Tower Award on the 46th Trade Day. HHI, with its solid foundation in shipbuilding, has expanded into other areas of heavy industries such as offshore & engineering, industrial plant & engineering, engine & machinery, electro electric systems and construction equipment, resulting in US$15 billion in exports this year. The award is also in acknowledgement of the company’s contribution to the improvement of the Korean economy, with its outstanding achievement as the representative integrated heavy industries company in the world.
From July 1, 2008 to June 30, 2009, the period used in selecting outstanding exporters, HHI achieved exports equal to US$15.3 billion, double its own record of 2006-2007, and a 19.5% increase from the record in 2007-2008. This year’s record was the highest among all of the awarded companies on Trade Day.
Ever since HHI became the No.1 shipbuilding company in the world in 1985, beating Mitsubishi Heavy Industries of Japan, it has been leading the industry, boasting a 15% global market share. The division is capable of building all types of ships to meet various demands from clients all over the world, and has delivered more than 1,383 ships to 244 customers in 46 countries since 1972.
HHI’s Engine & Machinery division, possessing a 35% global market share, is the world’s largest marine diesel engine builder. The division reached the production milestone of 80 million bhp (brake horsepower) in low-speed engines in 2008 and 90 million bhp in September 2009. The division won a major order in Cuba and as well as in Central and South America, the Middle East, and other parts of Asia. In terms of technology, the division’s 12 products were selected as the official “World-Class Products” by the Korean government.
The Offshore & Engineering Division operates the world’s largest offshore yards, covering over 229 acres, while its skyline is dominated by the world’s largest 1,600 tongantry crane. Since HHI’s first involvement in offshore structures with a Saudi Arabian order in the 1970s, the division has completed 3 million metric tons of offshore facilities and 4,800 kilometers of subsea pipelines in 160 projects for more than 30 clients worldwide. HHI’s innovative lifting technique, Super Lift, was even listed in the Guinness Book of World Records, when it lifted the 12,000 ton topside for the Nakika FPU Project ordered by Shell.
The Electro Electric Systems Division is the world’s largest manufacturer of marine generators, taking up 45% of the global market, and offering turnkey solutions in power industries. In an effort to continue its technological advancement, the division opened a joint-venture research center with Enova Systems Inc. in California to produce electric vehicle equipment and distributed generation systems.