# 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.

- Type: Acquisition
- Announced: 2018-04-13
- Where: Alabama, United States
- Value: $29.0M (30.9B KRW)
- Jobs: 300
- Status: announced
- Capacity: 14,000 MVA per year (80 transformers)
- Products: power transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Hyundai Heavy Industries](https://endata.com/companies/1382.md)
- [Hyundai Heavy Industries](https://endata.com/companies/1382.md) (target)
- [Hyundai Electric & Energy Systems](https://endata.com/companies/27685.md) (acquirer)
- [Hyundai Power Transformer](https://endata.com/companies/31323.md) (target)
- [Hyundai Power Transformers USA](https://endata.com/companies/31342.md) (target)

## Sources

- [asiae.co.kr](https://www.asiae.co.kr/article/2018041318092210724), 2018-04-13: "보유 중인 앨라배마 법인 지분을 매각해 현대일렉트릭앤에너지시스템으로 사업을 이관하기 위한 조치"
- [mk.co.kr](https://www.mk.co.kr/news/business/8271745), 2018-04-15: "현대일렉트릭은 현대중공업으로부터 미국 앨라배마에 있는 변압기 생산법인의 지분 100%를 309억원에 인수하고, 향후 350억원을 투자해 이 법인의 공장을 스마트화할 계획이라고 15일 밝혔다."
- [en.yna.co.kr](https://en.yna.co.kr/view/AEN20180415002500320), 2018-04-15: "Hyundai Electric said it has purchased a full stake in the plant in Alabama for 30.9 billion won ($28.9 million)."
- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/8273292), 2018-04-16: "Hyundai Electric & Energy Systems said on Sunday it has purchased a 100 percent stake in Hyundai Power Transformers USA in Alabama, the U.S. at 30.9 billion won ($28.8 million)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.