Banner

Banner
Banner

Baird Maritime News Alerts

Banner

Magazine Archive

FREE online issues of Baird Magazines (delayed two months):

Baird Maritime Magazine

Work Boat World

Ships and Shipping

Ausmarine

Weekly Poll

Is third-party seafood labelling good for the fishing industry?
 
Hyundai Heavy Industries announces management improvement plan
Thursday, 09 June 2016 18:05

Hyundai Heavy Industries (HHI) has announced today that it will implement a management improvement plan by 2018 worth 3.5 trillion won (US$3 billion).

According to the plan, HHI will secure 1.5 trillion won with the sell-off of its shares of Hyundai Motor and KCC, its stakes in Hyundai Avancis, and certain properties and receivables. It will also secure 900 billion won with an employee salary cut and work-sharing. 1.1 trillion won is expected with the spin-off and sell-off of a part of its business, and the reorganisation of affiliated companies.

HHI is also considering a contingency plan that will secure an additional 3.6 trillion won in case of need.

Once the plan is in place, HHI expects that its liabilities-to-equity ratio will drop from the current 134 per cent to 80 per cent by 2018. The total debt will also be cut down by about 2.0 trillion won to 6.6 trillion won.

In the first quarter of 2016, HHI swung to a profit of 325.2 billion won, putting an end to a nine-quarter losing streak.

Cialis Side Effects is just like any other medication yet do not must to worry and think that everything is bad. There is nothing surprising in this. Everything is simple and clear.