Hilco Industrial

Dongkuk Steel Mill Co. Ltd. To Sell 2.000.000 Ton/Year Heavy Plate Mill

Amsterdam based Hilco Industrial Acquisitions, B.V. (www.hilcoindustrial.com), a unit of Hilco Global, announced that it has been appointed by Dongkuk Steel Mill Co. Ltd, along with its Korean affiliate Seokyung Engineering Co. Ltd., as the exclusive agent to market and sell the “VAI DAVY” Plate Mill in Pohang, South Korea.

Hilco Industrial Acquisitions has begun a private treaty sale and negotiation process for complete heavy plate mill capable of producing 2.000.000 ton of shipbuilding plates per year, as well as a rolling mill, finishing mill and roughing mill. The assets are available immediately. 

This sale process is part of a reorganization at Dongkuk which began following the company’s acquisition of Union Steel Co., to improve the company’s financial standing and strive for more diversity. Dongkuk Steel is known for producing steel plates from those for general use to high-quality products such as TMCP and Normalized for ship building and marine structures. The facility is located in Pohang, Gyeongbuk in South Korea. Recently a decision was made to sell the “VAI DAVY” Plate Mill which was built in 1997. 

About Seokyung Engineering Co. Ltd.:  Seoul, South Korea based Seokyung Engineering Company Ltd. provides sales and services of industrial machinery and equipment. The Company also exports investment goods such as machineries, manufacturing cells, and production lines.

About Dongkuk Steel Dongkuk Steel Mill Co, Ltd. is a steel company with its headquarters in the city of Seoul, South Korea. Its manufacturing plants are located in Pohang, Incheon, Dangjin and Busan. Main products are steel plates mainly for shipbuilding, beams, sections and bars mainly for construction. Dongkuk Steel is the parent company of the Dongkuk Steel Group with several subsidiaries including Union Steel. Dongkuk Steel Mill is the second largest EAF steel producer in Korea behind Hyundai Steel. Additionally, Dongkuk Steel is the world’s forty-ninth largest steel maker among IISI member companies.

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