Hyosung Heavy Industries expands in Europe with deal in Sweden

Hyosung Heavy Industries said Friday it won a contract to supply high-voltage switchgears in Sweden, clenching a second deal in Europe to expand its presence there.

According to the company, it recently landed a contract with Svenska Kraftnet, Sweden’s national power grid, to supply 420-kilovolt switchgears.

The company said it will supply the high-voltage switchgears to electric stations in Stockholm by 2021.

“Hyosung Heavy Industries plan to expand its power apparatus business in the new global market with its top-level power manufacturing technology,” Chairman Cho Hyun-joon said.

Hyosung is the first Korean company to enter the European market, having been chosen as the main supplier of power transformers for Britain’s national grid in 2010.

By Jo He-rim (herim@heraldcorp.com)