Samsung Heavy Industries

All you want to know about Samsung Heavy Industries

Samsung Heavy Industries

Type	Public
Founded	August 5, 1974
Headquarters	Seocho Samsung Town in Seoul, South Korea
Key people	Jing-Wan Kim: President and CEO
Industry	Shipbuilding, Construction & Engineering and Equipment
Revenue	▲ $6.45 billion^[1] (2006)
Net income	▲ $215.9 million^[1] (2006)
Employees	10,565^[1] (2007)
Website	www.shi.samsung.co.kr/eng

Samsung Heavy Industries or SHI (Korean: 삼성중공업, Hanja: 三星重工業) is one of the largest shipbuilders in the world and one of the "Big Three" shipbuilders of the world. A core subsidiary of the Samsung Group, South Korea's largest conglomerate, SHI has its main focus on shipbuilding, offshore floaters, digital devices for ships and construction & engineering concerns.

SHI operates manufacturing facilities at home and abroad, including ship block fabrication factories in Ningbo and Rongcheng, China. The Geoje Shipyard in particular, SHI's largest shipyard in South Korea, boasts the highest dock turnover rate in the world. The largest of the three docks, Dock No.3, is 640m long, 97.5m wide, and 13m deep. Mostly ultra-large ships are built at this dock, having the world’s highest production efficiency with yearly dock turnover rate of 10 and the launch of 30 ships per year.^[2]

SHI specializes in the building of high added-value and special purpose vessels, including LNG carriers, off-shore related vessels, oil drilling ships, ultra Large container ships and Arctic shuttle tankers.

1 History
2 References
3 External links

History

Samsung Heavy Industries was established in 1974, when the company's Changwon plant was opened. SHI soon purchased Woojin, followed by the construction of Geoje shipbuilding facilities and merger with Daesung Heavy Industries.

Samsung Shipbuilding and Daesung Heavy Industries were merged under Samsung Heavy Industries in 1983. Since then, it has put efforts in the introduction of new technologies and development of products, while expanding the business area into heavy equipment and construction.

Since the 21st century, SHI began to build LNG and large passenger ships in earnest, and exported shipbuilding technologies to the United States.

1974-1982

Aug. 5 1974: Samsung Heavy Industries established.
Apr. 22 1977: Samsung Shipbuilding Co. established.
Apr. 19 1979: Received the first shipbuilding order for two oil drilling ships from BULKSHIP (Australia).
Oct. 1979: Built Dock No.1

1983-1989

Jan. 1 1983: Three heavy industries business units merged under Samsung Heavy Industries.
Feb. 10 1983: Completed construction of No. 2 Dock.
Jan. 1984: Expanded into sea plant.
Apr. 6 1985: Opened a shipbuilding and marine research institute.

1990-1994

Jun. 21, 1991: BV and KR LNG carrier quality assurance certificate acquired.
Jul. 4, 1991: Presidential Award for Total Productivity received.
Mar. 24, 1992: First FPSO facility order received.
Jan. 12, 1993: ISO 9001 certificate acquired.
Oct. 19, 1993: Lloyd's Register LNG carrier quality assurance certificate acquired.
Jan. 28, 1994: Korea Stock Exchange IPO completed.
Oct. 19, 1994: Construction of Geoje Shipyard Dock No.3 completed.

1994-1999

Aug. 19 1996: Won ISO14001 environment management mark.
Nov. 28 1996: Completed construction of Daedeok test towing tank and cavitation tunnel.
Mar. 15 1997: Sold off non-core business units and pushed for restructuring.
Dec. 22 1997: Opened a ship block factory in China.
Mar. 15 1997: Completed construction of the first drill ship and won WBA Award.
Nov. 20 1998: Broke into large passenger ship market first in the country.
Nov. 1999: Built the world’s largest membrane-type LNG carrier.

2000-Present

Mar. 6 2000: Expanded into digital control systems.
Oct. 2000: Completed a 9,000TEU-class large container ship.
Mar. 23 2001: Won OHSAS 18001 safety health management system mark.
May 2001: Exported shipbuilding technology to U.S. Conoco.
Jul. 5 2001: Reached the 1,000 CGRT in ship production and 300 ships in delivery.
Dec. 2001: Completed construction of world’s first next generation electrically-propelled LNG carrier.
Jan. 30 2002: Named one of the ten developers of new passenger shipbuilding technologies.
Dec. 14 2004: 12,000 TEU-class container ship development completed.
Nov. 14 2005: First ice-breaking tanker order received.
Aug. 2006: The delivery of 500 ships exceeded.

References

External links

Retrieved from "http://en.wikipedia.org/wiki/Samsung_Heavy_Industries"

Categories: Samsung Group | Shipbuilding companies of South Korea

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