SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
HD Korea Shipbuilding & Offshore Engineering is shelling out KRW81.3 billion or $63.5 million to buy STX Heavy Industries. The global leader in the shipbuilding business confirmed that it will acquire the Korea-based engines, core materials, and ship equipment manufacturer on Tuesday, Aug. 1.
According to The Korea Herald, HD Korea Shipbuilding & Offshore Engineering inked an agreement with Pinetree Partners private equity firm for the acquisition. It will buy the PEF company’s 6.52 million shares in STX Heavy Industries.
Moreover, it will also purchase an additional 5.36 million in newly issued shares. Once the transaction is completed, the shipbuilding firm will become the largest shareholder in STX Heavy Industries with its 35% stake.
After the acquisition, the shipbuilding subsidiary of HD Hyundai is planning to reinforce the management of STX Heavy Industries. It will also boost the engine and core materials manufacturer’s production capacity by bolstering the development of environmentally-friendly engine technology and building additional production lines for both diesel and dual-fuel engines.
“Combining HD Hyundai Heavy Industries’ engine technology with STX Heavy Industries’ eco-friendly engine technology will make us gain momentum in the fast-growing demand for clean transportation,” an official of HD Korea Shipbuilding & Offshore Engineering stated.
HD Korea Shipbuilding & Offshore Engineering aims to secure better production capability for small and mid-sized engines designed for ships. The company will focus on this business segment while also working on the manufacturing of engines for large container vessels.
In any case, STX Heavy Industries’ advanced turbocharger technology will help HD Korea Shipbuilding & Offshore Engineering in speeding up its local production of key engine parts. The merger will widen HD KSOE’s presence in the global sector, including China, as well.
Meanwhile, after the announcement of its acquisition of STX Heavy Industries, it was reported that the stock price of HD Korea Shipbuilding & Offshore Engineering has gone up by 0.97% to KRW124,500 at the closing bell from the previous day.
Photo by: famingjia inventor/Unsplash
