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Hyosung Heavy Signs 386.6 Billion Won in US Transformer Contracts

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Hyosung Heavy Industries (KRX:298040) has signed two transformer purchase agreements totalling 386.6 billion won with its US sales subsidiary, HICO America Sales & Tech, effective Sept. 14.

The first is a 765kV transformer purchase agreement worth 220.1 billion won, with a contract period running through Feb. 28, 2029.

The second is a 345kV transformer purchase agreement valued at 166.5 billion won, with a term ending Aug. 31, 2028, according to a separate filing on Friday.

The 765kV contract covers transformers and reactors for the construction of a 765kV power grid in certain US regions. Both deals involve invoicing and payment based on supply progress with no deposit or advance required.

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