Monday, June 2nd, 2014
SEOUL, KOREA - Texcell-Netcom, a KOSDAQ-listed company, said on June 1 that its subsidiary Hanjoong Ship Machinery Co. has won on May 30 a vessel equipment project worth US$80 million from Jurong Shipyard Aracruz in Espirito Santo, southeastern Brazil. Established in 2009, Hanjoong is specializing in ship automation equipment installation. The company posted sales revenue of 142.5 billion won and operating profit of 15.4 billion won in 2013.
The latest order is equivalent to 57 percent of last year's sales revenue. Texcell-Netcom, the company specializing in network solutions and electronic components, had acquired Hanjoong Ship Machinery in September last year as a way to diversify its business.
A Hanjoong official said, "We landed the deal by overtaking other rival bidders from Japan and China. The project calls for delivering a floating dock." A floating dock is a barge-like large structure on which a ship can be built.