In an effort to cut its debt-to-equity ratio and insulate the shipbuilding group from any financial downturns from any of its divisions, Hyundai Heavy Industries has begun trading as four separate entities - construction equipment, shipbuilding, electric machinery and industrial robots. Trading for the four new entities began Wednesday.
The combined market value of the four companies is now $14 billion. The move cut the Korean shipbuilder's net debt in half and reduced its debt-to-equity ratio to 95.6 percent at the end of March from 106.1 percent at the end of 2016.
Hyundai Heavy said in march it plans to invest heavily in technology development through 2021, allotting $582 million the Hyundai Construction.
The company has been undergoing restructuring and announced last week it will be suspending work at its Gunsan shipyard in July.