With the launch of Hanwha Engine, South Korea’s shipbuilder Hanwha has grow to be absolutely geared up to offer whole shipbuilding options, together with engine manufacturing with in-house manufacturing and know-how capabilities.
Hanwha has formally launched its new affiliate, Hanwha Engine, after efficiently buying HSD Engine, the world’s second-largest marine engine firm when it comes to market share.
According to the corporate, it’ll leverage Hanwha Engine’s considerable expertise in marine engine manufacturing and the synergy amongst Hanwha associates to develop and commercialize eco-friendly gasoline engines, together with ammonia.
At a rare shareholders’ assembly held on February 27, the stakeholders voted in favor of launching a brand new engine producer underneath the title Hanwha Engine Co., Ltd. The firm appointed Moon Ghee Ryu, former head of Hanwha Impact’s Investment Strategy Department, as its CEO.
“The name Hanwha Engine, first and foremost, represents becoming a part of the Hanwha family but it also emphasizes having strong growth engines to propel new opportunities. Each of our executives and employees will provide customers with unrivaled value, take on challenges and self-innovate for the future,” stated Ryu.
Hanwha Impact is Hanwha Engine’s majority shareholder with a 32.8% stake within the engine producer.
Hanwha Engine is at present creating good ship options for environment friendly ship operations and various gasoline propulsion programs. Going ahead, the corporate will broaden its aftermarket enterprise, providing post-sales assist reminiscent of gross sales and repairs of ship elements.
