STX Group Targets W30 Tril. Sales

STX Group, South Korea's mid-sized conglomerate whose main cash-cow is shipbuilding, has set next year's sales target at 30 trillion won ― an increase of 11 percent from this year's estimated 27 trillion won. The group plans to win 35 trillion won worth of new orders while diversifying its business portfolio and expanding its moves into emerging markets from South America to Africa, group spokesman Kim Ho-jeong said, Sunday. By segment, its shipbuilding and machinery units are forecast to post 18 trillion won in sales via global networks linking Europe and China to South Korea.
Its shipping and trading businesses led by STX Pan Ocean is set to reap 10 trillion won in 2009.
The plant and renewable energy businesses are expected to draw one trillion won, according to the spokesman.
STX Shipbuilding, the world's No. 6 shipyard, is a major cash supplier to the group. Despite the collapse in global shipping markets, STX Shipbuilding clarified it doesn't have plans to cancel any of the ships it has on order.