Long-Term Cooperation Agreement between COSCO Dalian Shipyard and Hyundai Heavy Industries

2010-6-13

COSCO Dalian Shipyard signed a long-term cooperation agreement with Hyundai Heavy Industries Group on 22nd April. Mr. Yan Chengxiang, the Vice General Manager of COSCO Shipyard Group, and Mr. Kim Jenm Ho, the Executive Vice President of Hyundai Heavy Industries Group, signed the agreement in COSCO Dalian Shipyard. It marked the two companies forming a strategic partnership in marine product supply, mainly based on marine diesel engines. The agreement laid a solid foundation for long-term and stable cooperation between both sides and has enormous significance for COSCO Dalian Shipyard to improve cost control and further enhance its core competitiveness.

Hyundai Heavy Industries Group is a subsidiary of the Hyundai Corporation. It is a world-class integrated heavy industries company and the cradle of Korean heavy industries. It's Engine Division has the world's largest production output.