On July 14, Hyundai Glovis signed a share purchase agreement with Eusu Ship Management Co., Ltd. to acquire 100% of its shares for KRW 11 billion for its enhancement of shipping business. Thanks to the acquisition of Eusu SM, Hyundai Glovis has been able to improve the quality of its shipping business focusing on its completed vehicles and bulk marine transportation services. And In addition, Hyundai Glovis has been able to operate its fleet more professionally and efficiently, which will contribute to consolidating service capacity and increasing profitability.Eusu Ship Management Co., Ltd., established in 2006, is a company specialized in ship management that serves management of ship's equipment & sailing, training of sailors, audit for new ships and supplement of ships'equipment. Eusu Ship Management Co., Ltd will be operated independently after the acquisition, and follow-up measures will be taken step by step. Hyundai Glovis plans to continue to increase its shipping expertise and become a global shipping company.
Hyundai Glovis Co. Ltd. published this content on 31 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 September 2017 08:47:01 UTC.
Original documenthttps://www.glovis.net/Eng/news/communityid/6/view.do?idx=3262
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Hyundai Glovis Co Ltd is a Korea-based company principally engaged in the logistics business. The Company operates its business through three segments. The Distribution segment is engaged in the complete knocked down (CKD) parts supply business and used car auction business. In addition, this Segment is engaged in the trading business that exports raw materials and finished vehicles. The Logistics segment provides logistics services such as transportation, storage, and unloading for customers' cargo. The Shipping segment is engaged in the finished vehicle transportation and bulk transportation business. The Segment transports passenger cars, commercial vehicles, special vehicles, heavy construction equipment, railway vehicles, iron ore, coal crude oil, petroleum products, and liquefied natural gas (LNG).
HYUNDAI GLOVIS CO., LTD. 
