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 Korean industrial giant is reorganizing into four companies, with its non-shipbuilding businesses being spun off to improve management efficiency and competitiveness. The move is part of the conglomerate’s efforts to boost competitiveness in an industry that faces stiff competition from South Korea’s domestic rivals such as Samsung Electronics Co. (005930.KS) and LG
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 move is part of the conglomerate’s efforts to boost competitiveness in an industry that faces stiff competition from South Korea’s domestic rivals such as Samsung Electronics Co. (005930.KS) and LG