Korean industrial giant Hyundai Heavy Industries ( HHI ) has spun off its Construction Equipment division to form a new company , named Hyundai Construction Equipment , as it seeks to improve its efficiency and competitiveness . The deal will see HHI acquire several businesses — including shipbuilding , offshore and industrial plant — while the new companies , including Hyundai Construction Equipment , will focus on electro electric systems , construction equipment and robot business .
Korean industrial giant Hyundai Heavy Industries (HHI) has spun off its Construction Equipment division to form a new company, named Hyundai Construction Equipment, as it seeks to improve management efficiency and competitiveness. The plan will see HHI retain core businesses — including shipbuilding, offshore and industrial plant — while three new firms, including Hyundai Construction Equipment, will focus on electro electric systems, construction equipment and robot business.