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(Seoul=NSP NEWS AGENCY) = Sangsangin’s subsidiaries, Sangsangin Heavy Industries and Sangsangin Industry, planned to sell their assets and focus on the ship crane business to regain their reputation as quality ship cranes.

On February 2, the two companies announced asset purchase and transfer of business agreements with Hanwha Ocean Ecotech, a subsidiary of Hanwha Ocean, to pour their efforts into their main business, ship crane.

The assets sold include Gwangyang facility premises and manufacturing facilities worth 105 billion won, which would be used for business operations and investment. According to the agreement, the purchase process would be finalized on March 27.

Along with selling less important assets and premises, Sansangin Industry revealed a goal to focus on its main business, ship crane.

DMC, the predecessor of Sangsangin Industry, led the cranes for ship and offshore plant industries. So, Sangsangin Industry is an expert in ship cranes, retaining the design capability for mechanical-electric-hydraulic, the only Korean crane company of such, and warranty services programs at home and abroad. It planned to regain market power based on expertise and know-how on ship cranes and active sales activities over large shipowners.

The CEO of Sangsangin Industry said, “Marine cranes are directly connected with safety so that only a few authorized and specialized ship-building companies are allowed to build.” and added, “Sangsangin Heavy Industries and Sangsangin industry will become the frontiers of the industry by maximizing unparalleled technologies in the crane industry and sales capability.

By Hyun-jin Kim(kimhj30310@nspna.com) and Soo-in Kang(sink606@nspna.com)

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