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daewoo shipbuilding & marine (042660) Details

Daewoo Shipbuilding & Marine Engineering Co., Ltd. operates as a shipbuilding and offshore company in Korea and internationally. The company offers commercial vessels, including tankers, container carriers, bulk carriers, ore carriers, LNG and LPG carriers, roll-on roll-off carriers, chemical carriers, product carriers, passenger ferries, and other vessels; specialty vessels comprising submarines, destroyers, battle ships, submarine rescue vessels, AUVs, and other specialty vessels; fixed platforms, rigs, and FPSO/FPU/FSOs for offshore oil and gas exploration and production; onshore plants, such as chemical plants, seawater treatment plants, and power plants; industrial facilities, including off-loading facilities; and steel structures comprising steel bridges and steel cages. It is also involved in the research and development, manufacture, and sale of blocks, parts, and other related products; hatch covers, trance bulkheads, side shells, LNGC trunk decks, cargo machinery rooms, lashing bridges, rudders, and other iron structures; and design, production, and installation of offshore/land plants, as well as other related businesses. In addition, the company manufactures deck houses, engine casings, funnels, bow and stern blocks, living quarters, pontoon and columns, E & I buildings, modules, industrial machinery, environmental facilities, and iron and steel manufacturing facilities. Daewoo Shipbuilding & Marine Engineering Co., Ltd. was founded in 1973 and is headquartered in Geoje, South Korea. The company is a subsidiary of Korea Development Bank.

Founded in 1973

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Daewoo Shipbuilding & Marine Engineering Co., Ltd. to Build Three Diesel-Electric Submarines for Indonesia

Daewoo Shipbuilding and Marine Engineering (DSME) has reportedly been awarded a contract to build three Nagapasa Type 209/1400 diesel-electric submarines (SSKs) for the Indonesian Navy. The $1 billion contract was awarded by the Indonesian Ministry of Defence following months of negotiations between the two parties. PT PAL will support DSME with construction of the vessels. For the first submarine, two of the SSK's six modules will be built at the Indonesian city of Surabaya by PT PAL, while the remaining four will be constructed by DSME in South Korean facility at Okpo. Once complete, the modules will be assembled at Okpo with PT PAL-built modules to be shipped to South Korea. For the second vessel, PT PAL will be responsible for building four of the six modules, while DSME will develop the remaining two in Okpo. The final assembly for the vessel will also be carried out at South Korea. Recently, Indonesia launched the third Nagapasa submarine, to be christened KRI Alugoro (405) when commissioned. Powered by four MTU 12V 493 diesel generators, the Nagapasa-class has an overall length of 61.2 m, an overall beam of 6.25 m and a hull draught of 5.5 m. The vessel can travel at a top speed of 21.5 k underwater and 11 k when surfaced.

Daewoo Shipbuilding & Marine Engineering Co., Ltd., Annual General Meeting, Mar 29, 2019

Daewoo Shipbuilding & Marine Engineering Co., Ltd., Annual General Meeting, Mar 29, 2019, at 10:00 Korea Standard Time.

Daewoo Shipbuilding Workers Walk Out over Sale to Hyundai Heavy

Unionists of Daewoo Shipbuilding & Marine Engineering stage a demonstration in front of the Korea Development Bank in Seoul on Feb. 21, 2019, to protest the bank's sale of the shipyard to Hyundai Heavy Industries. Yonhap Unionized workers at Daewoo Shipbuilding & Marine Engineering went on strike February 19, 2019 in a show of opposition to the planned sale to Hyundai Heavy Industries. The shipbuilder's union said its workers at the Geoje yard in southern South Korea will lay down their tools for four hours in the afternoon. Hyundai Heavy's labor union also said its workers approved the proposed strike. Early February, Korea Development Bank (KDB) said it would sign a formal deal with Hyundai Heavy early next month to sell its controlling stake in Daewoo Shipbuilding. KDB is Daewoo Shipbuilding's main creditor and has a 55.7% stake in the company. The labor unions at Hyundai Heavy and Daewoo Shipbuilding fiercely oppose the deal, claiming it could lead to massive layoffs. The passage of the vote by Hyundai union may result in workers from the two shipyards joining forces to thwart the purchase. Lee Dong-gull, the chief of KDB, stressed that it is the right time to sell Daewoo Shipbuilding as the industry seems to be on a recovery track.


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Price/Earnings 15.1x
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