Hyundai Heavy wins $113 Million Transformer Order
Dec. 3, 2010 - Hyundai Heavy today secured a 130 billion won(USD 113 million) long-term supply order for 400kV ultra high voltage transformers to National Grid in the United Kingdom, one of the world's largest utilities from 2012 to 2016.
This new order helps Hyundai Heavy set an all-time record for annual transformer sales of 1.4 trillion won(USD 1.2 billion), up 30 percent year-on-year. Hyundai Heavy also becomes the first Korean company to win USD 1 billion order from overseas tranformer markets.
Considering the order of 40 transformer for National Grid's American unit that Hyundai Heavy is expected to win soon, Hyundai Heavy is well positioned to break annual transformers sales of 1.5 trillion won (USD 1.3 billion) by the end of this year, five-fold increase over 2006.
India is a new and promising market for Hyundai Heavy with orders for more than 100 765kV ultra high voltage transformers from customers like Adani Power. Since the Indian goverment is expanding large scale electricity facilities to solve chronic domestic power shortage, Hyundai Heavy expects to win more transformer orders in the region.
In last October, Hyundai Heavy also received the world's largest 1,500 MVA transformer order from Powerlink Queensland In Australia.
Hyundai Heavy' annual transformer order volume has been on the rise in North America, Europe and the Middle East due to its quality and service. Hyundai Heavy expects the completion of a transformer factory in Alabama, USA by 2012, can serve as a stepping stone for Hyundai Heavy to be in the Top Global 3 in the world's transformer market.
Since 1978, Hyundai Heavy has exported transformers to 70 countries and is about to achieve 700,000 MVA aggregated production for the first time in Korean by the end of this year.
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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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