OPK and Hyundai Heavy Industries made a protocol for mutual shipbuilding cooperation

On July 24, 2009 Yan Yanovsky, Managing Director and Member of the Boards of Directors of United Industrial Corporation (OPK) and B.T. Ahn, Executive vice-president of Hyundai Heavy Industries (HHI) made a contract for mutual shipbuilding cooperation. Main purpose of this protocol is to determine main tasks of cooperation, including development of shipbuilding projects, increase facility, mutual activity on designing vessels and development of ship’s equipment.
According to this protocol HHI as a partner of OPK will provide a support in construction of new shipbuilding facility, shipyards management and building of specific types of vessels, including gas-locomotives.
Hyundai Heavy Industries is a global leader of shipbuilding industry, using modern technologies and experience on shipbuilding industry (including construction of ocean-vessels, oil- and gas-supplying vessels at sea-fields.
United Industrial Corporation (OPK) consists of Severnaya Verf shipyard, Baltiysky Zavod plant and design bureau Iceberg. OPK intends for modernization of its shipbuilding assets and building of modern shipbuilding complex with dry dock on large-capacity vessels, boring platforms and offshore equipment production. Also OPK is going to take part in shipbuilding programs of companies, which are behind Arctic shelf development.