Taehwa Enterprises-led consortium to acquire Shinhan Heavy Industries from Daewoo Shipbuilding & Marine for $173m.

Taehwa Enterprises-led consortium agreed to acquire Shinhan Heavy Industries, a shipbuilding and structural steel product manufacturing company, from Daewoo Shipbuilding & Marine, a firm that manufactures naval and commercial ships, for $173m. Taehwa Enterprises will acquire Shinhan Heavy Industries as a strategic investor. Taehwa Enterprises has affiliates that manufacture and supply key parts related to LNG carriers to Hyundai Heavy Industries and Samsung Heavy Industries. Significant synergies are expected, including related orders.