Hyundai Elevator
| Hyundai Elevator
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | KR7017800004 |
| founding | 1984 |
| Seat |
Icheon , South Korea
|
| management | Bob Jang ( CEO ) |
| Number of employees | 3944 |
| sales | 1.62 trillion KRW (1.22 billion euros ) |
| Branch | Elevators |
| Website | www.hyundaielevator.co.kr |
| As of December 31, 2018 | |
Hyundai Elevator is a South Korean elevator manufacturer based in the city of Icheon . The company is part of the Hyundai Group .
Hyundai Elevator was formed in 1984 from a joint venture between the Hyundai Heavy Electric Machines Company and Westinghouse . In 1985, the first factory for elevator systems was completed in Icheon, Gyeonggi-do province , and a second factory building for escalators followed in 1988. After Westinghouse withdrew from the joint venture in 1989, the Hyundai Group became the sole owner of the company. Hyundai Elevator has been listed on the stock exchange since 1996 .
According to its own information, Hyundai Elevator has a market share of around 43.7% in domestic Korea. Behind the Hyundai Group, the Swiss Schindler Group was the company's second largest shareholder in 2018 with a stake of over 17%. Schindler joined the company in 2006 with a 25% stake and had temporarily increased this stake to 35%. Several capital increases at Hyundai Elevator, which were carried out against Schindler's will, diluted Schindler's shares . The necessary write-downs as a result of the lower Hyundai Elevator share price at Schindler amounted to an amount in the three-digit million range. Schindler subsequently initiated arbitration proceedings against the South Korean state.
Individual evidence
- ↑ a b Hyundai Elevator: Overview , accessed June 5, 2019
- ^ Hyundai Elevator: Financial Information , accessed June 5, 2019
- ↑ Hyundai Elevator: History , accessed June 5, 2019
- ↑ handelszeitung.ch: Losses in Korea: Schindler sues Seoul , accessed on June 6, 2019
- ↑ Financial Times: Schindler sues Seoul over Hyundai Elevator losses , accessed June 6, 2019
- ↑ Schindler: Weak Hyundai Elevator share price forces Schindler to make a third write-down on the stake , accessed on June 6, 2019