STX aims big

STX Group, one of Korea?s rapidly growing conglomerates, aims to achieve 15 trillion won in total annual sales by 2010. The group announced yesterday it is on track to achieve its ambitious 2010 objectives of earning 5 trillion won each in its three main business areas – energy, shipbuilding/machinery and shipping/logistics.

In 2004, STX Shipbuilding earned 2 trillion won from shipbuilding, while in 2005 the company posted better results by earning 2.9 trillion won from shipbuilding. For this year STX projects sales to reach 3.7 trillion won from shipbuilding and plans to build LNG carriers and car carriers for the first time this year. It will also build a 150,000 dwt class oil tanker.