HHI plans setting up holding company in China
South Korean heavy industries company Hyundai Heavy Industries (HHI) announced that it will establish a holding company with $30 million capital in Shanghai,
China in March to expand business opportunities and coordinate its steel purchases.
The new company will also provide integrated management support for its four local subsidiaries in Beijing, Changzou, Yangzhong and Yentai. The subsidiaries in Changzhou and Beijing produce
construction machinery, the one in Yanzhong produces heavy electrical equipment and the one in Yentai produces industrial boilers.