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15 December 2018 The on-line newspaper devoted to the world of transports 13:01 GMT+1



August 8, 2016

Spin-Off Of Defense Unit
Daewoo Shipbuilding to Speed Up Special Ship Division Spin-off

SEOUL, KOREA
Jung Min-hee
BusinessKorea

According to creditors and financial authorities on August 7, Daewoo Shipbuilding & Marine Engineering Co. (DSME), which comes to a crisis due to the delay in offshore plant delivery, will submit a detailed plan to secure funds to its creditors by the middle of this month.
DSME planned to separate and spin off its special vessel division, or defense unit, by 2018. However, the company now considers advancing its time schedule and raising cash in advance by securitizing its bonds. It will also speed up the plan to downsize the workforce than it planned ......
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