SEOUL, Oct. 28 (Korea Bizwire) — Samsung Engineering Co., an industrial plant affiliate of Samsung Group, said Wednesday it had succeeded in automating the production of steel frames using smart robots. Steel frames are the structures that prop up machines, equipment and pipes. They are completed through the fabrication of sub-materials such as plates and [...]
SEOUL, June 24 (Korea Bizwire) — Samsung Engineering Co., an industrial plant affiliate of Samsung Group, said Wednesday that it had succeeded in producing pipes through smart robot automation. The company revealed that it succeeded in automating the ‘cutting-improvement-welding’ process for frequently used carbon steel pipe spools with a diameter of 4 to 12 inches. [...]
SEOUL, June 10 (Korea Bizwire) — Samsung Engineering Co., a plant construction unit of Samsung Group, said Wednesday that it had developed a next-generation three-dimensional printing technology for construction and succeeded in building a structure using the technology. The company started developing the technology from late last year and succeeded in developing the 3D printing [...]
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 [...]
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 [...]
SEOUL, Jan. 24 (Korea Bizwire) – Samsung Engineering Co. said Wednesday it has received a US$436 million order to build a petrochemical plant in Thailand by 2020. PTT Global Chemical Public Co., a Thailand state-owned petrochemical and refining company, placed the order at a consortium led by the Korean plant builder, Samsung Engineering said in [...]
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 [...]
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 [...]
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 [...]
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 [...]