HHI gains Brazilian foothold

Hyundai Heavy Industries has gained a foothold into the valuable Brazilian market. The Korean firm, currently the world’s largest shipbuilder, will take a 10% stake in a new offshore yard to be built by Brazil’s OSX, in return for passing on technical expertise. The yard will be established in the state of Santa Catarina. Fellow Korean yard, Samsung Heavy Industries, has also gained access to the lucrative Brazil market with a yard tie up with Petrobras.

(Source: www.schednet.com)