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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Heavy Industries Co.,Ltd    010140   KR7010140002

SAMSUNG HEAVY INDUSTRIES CO.,LTD

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Samsung Heavy Industries : Attains 1,200 Days of No Lost Time Injuries

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03/26/2019 | 08:03am EDT

Peter Uzoho

Samsung Heavy Industries Nigeria has announced that it has reached a significant health and safety milestone of 1,200 days with no lost time injuries at SHI-MCI, Africa’s largest ship fabrication & integration yard located in Lagos.

This achievement, according to the company, was reflective of SHIN’s intense focus on ensuring the health and safety of its entire workforce through significant investment in training and oversight.

The ship-building industry is potentially a very dangerous one with heavy machinery in operation, explosive gases used for welding and high temperatures in enclosed spaces. This means that there are many challenges to ensuring the health and safety of a large and diverse workforce.

Commenting on the achievement, Senior Health, Safety and Environment (HSE) Manager of Samsung Heavy Industries Nigeria, Bala Adjuya, said: “The main challenge for Samsung is that we have many employees who have never worked in the industry before. So it is hard to instill an awareness of health and safety. But once you train them, it becomes a skill for life.

“In addition to continuous staff training, every worksite is investigated for hazards, mitigation measures implemented and active HSE personnel are constantly present onsite to ensure safety protocols are followed.”

Samsung Heavy Industries had set for itself, a target of 0.9 per cent LTIs on the Egina FPSO Project in Nigeria.

LTI is a HSE term which means “lost time injury”, which is an injury sustained by an employee that will lead to loss of productive work time. Even one minor incident will result in a complete reset of the LTIs counter to 0. As of 25th March 2019, SHI-MCI has achieved 1,207 days of no LTIs. In order to achieve this challenging target, SHI-MCI follows a rigorous process.

“It begins from the day that new people come into the yard. We first take people to HSE training even if they only come onto the site for a job interview,” Adjuya said.

“It makes me proud that during the massive Egina FPSO Project [Africa’s largest FPSO recently completed] we were able to pull through with no sanction from regulators.”

At the peak of the Egina FPSO Project, Samsung Heavy Industries Nigeria employed approximately 5,000 employees at its fabrication & integration yard in Lagos.

(c) 2019 THISDAY NEWSPAPERS LTD. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (KRW)
Sales 2019 6 806 B
EBIT 2019 -9,44 B
Net income 2019 -85,9 B
Debt 2019 1 065 B
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 47,77
EV / Sales 2019 0,91x
EV / Sales 2020 0,79x
Capitalization 5 161 B
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 10 119  KRW
Spread / Average Target 24%
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Managers
NameTitle
Dae-Yong Park President, Chief Executive Officer & Director
Yeon-Kyung Choi MD & Head-Production Operations Team
Dong-Seol Kim Managing Director & Head-Finance
Jae-Kwang Eom MD & Head-Production Technology Team
Boo-Ki Kim MD & Head-Chung Ang Research Institute