HD Hyundai, Kiewit Offshore to Collaborate on Shipbuilding Projects Serving US
MT Newswires Live
Jul 20
South Korean shipbuilding and heavy industries group HD Hyundai (KRX:267250) and Texas-based Kiewit Corporation subsidiary Kiewit Offshore Services entered into a partnership agreement to collaborate on shipbuilding projects serving the U.S., according to a Friday release.
The partnership aims to expand U.S. shipbuilding capacity, boost the maritime industrial base, strengthen domestic manufacturing, and further expand opportunities for collaboration in the future, the release said.
Under the agreement, the two firms will collaborate on U.S. shipbuilding projects, which would include the fabrication of ship blocks and modules, it said.
Shares of HD Hyundai fell over 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.