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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Heavy Industries Co., Ltd.    A010140   KR7010140002

SAMSUNG HEAVY INDUSTRIES CO., LTD.

(A010140)
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Samsung Heavy Industries : Unveils Innovations for Nigeria's Shipbuilding Industry

07/13/2020 | 07:06am EST

Samsung Heavy Industries (SHI) is developing innovative methods to facilitate smart shipping by undertaking thorough research across their multiple research centres in Geoje, Daeduk and Pangyo in Korea.

According to a statement issued by the company, the aim is not only to transform Samsung's shipyard at Geoje into a smart shipyard, but also transfer the wealth of technological knowhow from Korea to Nigeria, cultivating smart shipping in Nigeria as well.

During the construction of the Egina, the world's largest FPSO, Samsung Heavy Industries Nigeria (SHIN) was already able to apply many innovations from their Korean operations. This helped shorten the Egina project integration process to seven months, the fastest in Africa amongst comparable projects.

Now, rigorous research is underway at both their onshore and offshore R&D centres across Korea.

The ICT Convergence Centre in Geoje, for instance, is working on integrating an innovative ICT and production technology in up to six different categories.

The technologies to be implemented will facilitate more efficient ways of working, lowering the cost of operations, increasing safety, and modernising the shipbuilding industry in Nigeria.

Samsung Heavy Industries has identified Nigeria and the West Africa region as an emerging market with an abundance of opportunity.

Managing Director of Samsung Heavy Industries Nigeria, Mr. Jejin Jeon, said: "Our investment in West Africa is a long term one, rooted in helping develop local human capacity by leveraging our fabrication and integration yard to the benefit of the entire West African maritime industry.

"At Samsung, we believe in having big dreams and visions for the future and following them with passion. Given our present as well the near future is digital, it is high time the shipbuilding industry too started digitizing its ways of working.

"We are looking forward to introducing these innovations to truly transform our ways of working in a complex industry such as shipbuilding. "Finally, we remain committed to ensuring that our relationship with the Nigerian community remains strong by continuing to train local staff in technical vocational skills," Jeon added.

Copyright Daily Trust. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2020 7 131 B 6,50 B 6,50 B
Net income 2020 -910 B -0,83 B -0,83 B
Net Debt 2020 3 502 B 3,19 B 3,19 B
P/E ratio 2020 -4,90x
Yield 2020 -
Capitalization 4 201 B 3 810 M 3 831 M
EV / Sales 2020 590x
EV / Sales 2021 570x
Nbr of Employees -
Free-Float 75,3%
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Mean consensus HOLD
Number of Analysts 24
Average target price 5 252,17 KRW
Last Close Price 6 880,00 KRW
Spread / Highest target 20,6%
Spread / Average Target -23,7%
Spread / Lowest Target -50,6%
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Managers
NameTitle
Joon-Wu Nam Chief Executive Officer & Director
Dong-Seol Kim Managing Director & Head-Finance
Jin-Taek Jeong Managing Director & Head-Technology
Jong-Gye Shin Independent Director
Jae-Han Yoo Independent Director