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HD Korea Shipbuilding & Offshore Engineering, the shipbuilding unit under HD Hyundai, said Tuesday it will acquire STX Heavy Industries, a Korea-based marine diesel engine manufacturer in a 81.3 billion won ($63.5 million) deal. The company said it signed a contract with the private equity firm Pinetree Partners to purchase its 6.52 million shares in the engine manufacturer and an additional 5.36 million newly is.
Intensifying competition between Hanwha and HD Hyundai in the shipbuilding industry is feared to help their Japanese rivals win construction orders for the Royal Canadian Navy s new submarines, according to industry experts, Wednesday.
Korean shipbuilder Samsung Heavy Industries said Monday it has bagged a 3.93 trillion-won ($3.1 billion) order to build 16 container ships for an Asian shipper.