Hyundai Heavy Industries Co., the world's largest shipbuilder, is seeking to buy 10 percent of a Brazilian shipyard in a bid to win orders from the South American country, industry sources said Wednesday.
Hyundai Heavy is in talks with OSX Brasil SA, a shipbuilding and oil services company, over the deal. The South Korean shipyard will transfer its shipbuilding technology to the Brazilian business partner in return for the stake purchase.
"In a couple of weeks, the two companies are expected to sign a deal," a source said.
Petrobras, Brazil's state-run oil firm, is projected to place orders for offshore oil development vessels such as drill ships and storage facilities, valued at up to US$42 billion.
Hyundai Heavy and local rivals such as Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. are competing to clinch orders from Brazil.
In December, OSX Brasil said it bought its first floating production, storage and offloading vessel from Samsung Heavy.
Hyundai Heavy is in talks with OSX Brasil SA, a shipbuilding and oil services company, over the deal. The South Korean shipyard will transfer its shipbuilding technology to the Brazilian business partner in return for the stake purchase.
"In a couple of weeks, the two companies are expected to sign a deal," a source said.
Petrobras, Brazil's state-run oil firm, is projected to place orders for offshore oil development vessels such as drill ships and storage facilities, valued at up to US$42 billion.
Hyundai Heavy and local rivals such as Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. are competing to clinch orders from Brazil.
In December, OSX Brasil said it bought its first floating production, storage and offloading vessel from Samsung Heavy.
