Hyundai Heavy wins $113 million transformer order

Hyundai Heavy secured a 130 billion won (USD 113 million) long-term supply order for 400kV ultra-high voltage transformers to National Grid in the United Kingdom, one of the world largest utilities from 2012 to 2016.

This new order helps Hyundai Heavy set an all-time record for annual transformer sales of 1.4 trillion won (USD 1.2 billion), up 30 percent year-on-year. Hyundai Heavy also becomes the first Korean company to win USD 1 billion order from overseas transformer markets.

Considering the order of 40 transformers for National Grid American unit that Hyundai Heavy is expected to win soon, Hyundai Heavy is well positioned to break annual transformers sales of 1.5 trillion won (USD 1.3 billion) by the end of this year, five-fold increase over 2006.

India is a new and promising market for Hyundai Heavy with orders for more than 100 765kV ultra-high voltage transformers from customers like Adani Power. Since the Indian government is expanding large scale electricity facilities to solve chronic domestic power shortages, Hyundai Heavy expects to win more transformer orders in the region. Last October, Hyundai Heavy also received the world's largest 1,500 MVA transformer order from Powerlink Queensland in Australia.

Hyundai Heavy annual transformer order volume has been on the rise in North America, Europe and the Middle East due to its quality and service. Hyundai Heavy expects the completion of a transformer factory in Alabama, USA by 2012, can serve as a stepping stone for Hyundai Heavy to be in the Top Global 3 in the world transformer market.<Korea Shipping Gazette>