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Samsung Engineering Wins US$3.1 bln Order to Upgrade Oil Refinery in UAE

Samsung Engineering Wins US$3.1 bln Order to Upgrade Oil Refinery in UAE

SEOUL, Feb. 8 (Korea Bizwire) — Samsung Engineering Co., a major South Korean industrial plant builder, said Thursday that its joint venture secured a US$ 3.1 billion deal to upgrade an oil refinery in the United Arab Emirates. Under the deal with the Abu Dhabi National Oil Company (ADNOC), Samsung and Netherlands-based CB&I will introduce [...]

Samsung Engineering Settles Dispute with Oman, ISDS Withdrawn

Samsung Engineering Settles Dispute with Oman, ISDS Withdrawn

SEOUL, Jan. 29 (Korea Bizwire) – Samsung Engineering’s longstanding dispute with the government of Oman has been resolved, and industry insiders expect the resolution to lead to increased business activity between the two down the road. According to industry watchers, the court at the International Centre for Settlement of Investment Disputes (ICSID) handling Samsung Engineering’s [...]

Thwarted Merger between Samsung Companies a Prelude to Shareholder Activism?

Thwarted Merger between Samsung Companies a Prelude to Shareholder Activism?

SEOUL, Nov. 20 (Korea Bizwire) — A merger between Samsung Heavy Industries and Samsung Engineering has been shelved due to opposition by institutional investors including the National Pension Service. As the big investors exercised their stock buyback rights, the companies saw their merger cost soar and decided to call it off. Some analysts suggested that this [...]

Samsung Engineering Clinches $80 Mil. Deal to Design Oil Refinery in Mexico

Samsung Engineering Clinches $80 Mil. Deal to Design Oil Refinery in Mexico

SEOUL, Sep. 13 (Korea Bizwire) – Samsung Engineering has won a refinery plant design project from Petróleos Mexicanos, which translates to Mexican Petroleums, a Mexican state-owned oil company. According to the CEO of Pemex, it will invest a total of $5.5 billion in various large-scale industrial projects which include plant upgrades, gas pipeline expanding, building a [...]

Samsung Heavy and Samsung Engineering Announce Blitzkrieg Merger

Samsung Heavy and Samsung Engineering Announce Blitzkrieg Merger

SEOUL, Sep. 2 (Korea Bizwire) – Two Samsung Group companies Samsung Heavy Industries and Samsung Engineering have decided to merge with each other in a board of directors meeting on September 1. The two companies will exchange shares at the ratio of 1 to 2.36. Samsung Heavy Industries will grant 2.36 shares to Samsung Engineering shareholders for every share [...]

Samsung Employees Get Their Summer Vacation Bonuses

Samsung Employees Get Their Summer Vacation Bonuses

SEOUL, July 9 (Korea Bizwire) — The employees of Samsung Group were paid a bonus called “TAI” (target achievement incentive) on July 8. The incentive bonus, given twice a year, is paid in four different grades from “A” to “D” depending on each affiliate’s financial performance and the degree of achievement vis-à-visthe target. As the first-half TAI [...]

Samsung Engineering Holds “Outreach Environment Class” to Mark World Environment Day

Samsung Engineering Holds “Outreach Environment Class” to Mark World Environment Day

SEOUL, June 6 (Korea Bizwire) – Marking the World Environment day which came on June 5th, Samsung Engineering, one of Samsung Group affiliates, opened “Outreach Environment Class” on June 3. Samsung’s  “green cause” program is aimed at raising awareness on environmental conservation which was given to school children residing in Hwasung and Gi-heung City in the [...]