Hyundai Heavy Industries sells Alabama transformer subsidiary to Hyundai Electric & Energy Systems

Hyundai Heavy Industries will sell 100 shares of its Alabama-based subsidiary Hyundai Power Transformer to affiliate Hyundai Electric & Energy Systems for 30.9 billion won (approx. $29 million) on April 16, 2018, to transfer the business.

“보유 중인 앨라배마 법인 지분을 매각해 현대일렉트릭앤에너지시스템으로 사업을 이관하기 위한 조치”asiae.co.kr

• 4 sources
• asiae.co.kr현대중공업, 美앨라배마 지분 계열사에 처분이종길 기자Apr 13, 2018
• mk.co.kr현대일렉트릭, 미국 변압기 생산공장 인수하고 350억 추가투자키로 - 매일경제한경우 기자Apr 15, 2018
• en.yna.co.krHyundai Electric acquires full stake in U.S. transformer plant | Yonhap News AgencyKang Yoon-seungApr 15, 2018
• pulse.mk.co.krHyundai Electric buys U.S. transformer plant at $28.8 mn - 매일경제 영문뉴스 펄스(Pulse)Apr 16, 2018

Summarized from public sources; check the original articles before acting on it.