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Ceremony: Hyundai Motors Takeover Hyundai Engineering & Construction

Hyundai Motor Group -& Hyundai Engineering & Construction (Take-over) Ceremony

April 1, 2011 8:00 AM

Hyundai Motor Group Chairman Mong-koo Chung and Hyundai Engineering and Construction as a family again for organizing employees' views, and vowed a spirited leap.

A short ceremony held today in Grand Ballroom Hyatt Hotel Seoul which highlighted the Korean National Flag and Hyundai Logo fly together for the better future of the reunited group of companies in leaping together for a new future celebrated in Hyundai Motor Group Building Auditorium with Chairman Mong-koo Chung and Hyundai Engineering and Construction employees with around 1,000  people attended. Hyundai Chairman Mong-koo Chung in this position to build a leading company INVINCIBLE praised the efforts of employees toward the future with a new challenge.

“Today, Hyundai Motor Group is part of the preliminary steps with a very meaningful and historic day," Chairman Mong-koo Chung, said, "Hyundai Motor Group welcomes the Hyundai Engineering & Construction Group to become one big family," and pledge to build together and grow together especially to foster the national the Korea’s Largest Hyundai E & C group’s modern construction engineering, operations, planning, engineering-oriented value-added capabilities enhanced by global companies.

"In modern construction, domestic construction industry's first sold 10 trillion to break through the performance was recorded," Mong-koo Chung said. “We will tackle, Hyundai Engineering and Construction employees and Republic of Korea leading the construction of a levy that self-esteem and South Korea build the future of responsible mission to have a new modern building together toward the future.

Hyundai Motor Group last year expressed interest in acquisition and future construction of the modern order of 10 trillion invested in 120 trillion won by 2020, sales of 55 trillion won would create a global top-notch construction company. For this purpose, to maximize synergies within the group Hyundai Motor Group's global brand power and complementary, to develop and diversify the group's business portfolio and ability of the group was willing to mobilize. In addition, employment of modern construction is planning to embark actively in the development of human resources, suppliers and subcontractors with the quality and skills development, such as an overseas expansion of mutual cooperation and mutual growth through a last will.

Hyundai Motor Group, on January 7, 2011 last selected as the preferred bidder since the January 14 memorandum of understanding (MOU) signed, and on March 8th Stock Trading bongyeyak (SPA) entered into a seamless argument, such as working the past few months has proceeded. The final day, the balance (4.4641 trillion won) by paying a total of 4.9601 trillion won in payment procedures, Hyundai Engineering & Construction was finished argument.

On the other hand, Chairman Mong-koo Chung  together with the Hyundai Construction and Hyundai Motor Group executive VP's  will gather together in Hyatt Hotel  family around 6:00 PM with more than 540 family members have to know each other.

 

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