Heavy Selected as "Power Transmission Equipment Company of the Year"
Aug. 24, 2009 - Frost & Sullivan, a research & consulting organisation, selected Hyundai Heavy Industries (HHI) as the "Power Transmission Equipment Company of the Year" in the Asia-Pacific region.
Every year, Frost & Sullivan confers the title to outstanding organisation based on the market share, growth, and leadership in the Asia-Pacific region.
HHI was awarded the title on the back of achieving more than 30% sales growth in Electro Electric Systems division despite the global economic crisis.
Previous winners of the award are Areva and ABB, receiving the title in 2007 and 2008 respectively.
HHI produces power transmission equipment such as transformers and switchgears and various electro-electric systems for export to 70 countries worldwide. HHI produced 500,000MVA in accumulated transformer output, and completed world¡¯s largest transformer shop with 120,000MVA annual capacity in 2008.
"We will put on our spurs to expand in overseas markets with Asia-Pacific market leadership", said an HHI official.
HHI,s Electro Electric Systems division has targets of 2.6 billion dollars in new orders and 2.8 trillion won in sales. New orders target is 15% higher and Sales target is 46% higher than last year,s performance. The division records 1.38 trillion won in sales and 1.55 billion in new orders in first half of this year.