Hyundai Heavy receives US$600million transformer order
May 23, 2010 - Hyundai Heavy Industries signed a $600 million contract to provide transformers to Southern California Edison (SEC) in USA.
The company will supply transformers of 230kV and 500kV to SEC for 10 years from 2010 to 2019.
Hyundai Heavy has already supplied US$400 million worth of transformers to SEC over the last 10 years.
The order is the biggest transformer contract for Hyundai Heavy Industries and Korea since a US$250 million transformer order from South Africa in November 2009.
Hyundai Heavy is the No. 1 transformer supplier in North America taking 40% of the market. The company has supplied more than 1,500 transformers from the early 1980s when it started to exports.
"With this order, we secure our leading position in North America's transformer market" said Mr. Shin Young-soon, senior vice president of Electro Electric Systems Division in Hyundai Heavy Industries.
The company recorded transformer sales of one trillion won in 2009, growing up five-fold over the last four years.
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Hyundai Heavy Industries Co., Ltd. (HHI) is the world's largest shipbuilding company, headquartered in Ulsan, South Korea. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy.
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