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 '08 1Q Results (Apr 25, 2008) |
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1Q Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement ▶ PDF Format |
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| Gave hope to the future generation of Vietnam (Apr 16, 2008) |
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Samsung Engineering gave hope to the future generation of Vietnam
- Established ‘Kumpooh Hope School’ in Vietnam’s rural area where proper
educational environment is lacking
- Deliver education and health/medical service to preschool children and
local residents
- Social contribution activity designed to give back to the community what the
company has made from doing business in the nation
Samsung Engineering shared hope with Vietnamese children. Samsung Engineering Co., Ltd.
(President & CEO Yeon-Joo Jung) set up and held completion ceremony for Kumpooh Hope
School in Quang Ngai, Vietnam.
‘Kumpooh Hope School’ is a school established for the children in Quang Ngai as part of
global social contribution activities of Samsung Engineering’s Kumpooh Volunteer Team.
The company signed an agreement with Plan Korea, an international children’s NGO, to build
the school on its foundation anniversary in April 2007, and completed it in this April after
breaking ground in May 2007.
The ceremony was attended by about 500 people including Sung-Young Kang, HR Team
leader, Vietnam Hanoi branch officer, Sun-Sup Kim, PCM of Hochi Min Intel Semiconductor
Project, company’s volunteers and other company members, representatives from Plan Korea,
local children who will be the owner of the school and local people. This joyful event was
commemorated by all the participants.
Quang Ngai, where the school is located, is a countryside area approximately 900km off from
Vietnam’s capital, Hanoi, and it has been in desperate need of school for its young population.
Kumpooh Hope School consists of 4 classrooms, 1 staff room, 1 nursing room, 1 kitchen,
water system and playground on a land measuring 2,604m2 in total size.
The school will be a center of education and health activities of Quang Ngai by offering
education and health service to 155 preschoolers, while providing medical service to 500
local people through health/medical facility within the school.
The project was funded by Samsung Engineering members’ donation and the company’s
financial support. All the employees of the company actively took part in fundraising campaign
made up of piggy bank money collection, bazaar and photo exhibition, raising significance of
its effort to share worldwide.
“The establishment of Kumpooh Hope School is part of our social activities to give back to the
community what we have made from doing our business in Vietnam,” said Sung-Young Kang,
a leader of HR Team, “we will continuously expand our global social contribution in the countries
where we have presence in the future.”
Samsung Engineering officially launched ‘Kumpooh Volunteer Team’ in 2006, integrating various
volunteer activities that had been undertaken on team level. The volunteer team is delivering a
multitude of social contribution programs such as performing local volunteering activities,
forming sisterhood relationship with 8 villages to render assistance to these areas, establishing
Kumpooh Hope School, donating used or old desktops and serving as one-day Korean language
teachers in the Kingdom of Saudi Arabia. |
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| HAJRI wins the ‘2007 Samsung Award’ as a proud partner(Feb. 11,2008) |
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Hajri, SECL’s major construction partner in Saudi Arabia, has been awarded the ‘2007 Samsung Award’. Hajri’s partnership with SECL began with SPC PCH/PP Project in 2002, the first Saudi Arabian project for Samsung Engineering, and since then it has executed 6 projects including. In particular, for TASNEE Ethylene, IbnZahr, PP- III, OCT projects, Hajri has collaborated with SECL from the stage of proposal, thereby contributing to Samsung’s winning of the contract by submitting a competitive price. Furthermore during the construction phase, where utilization of limited resource is of grave importance, it exerted strong execution capability in terms of technology and manpower, which led to ahead of schedule delivery and higher quality. Hajri, a core business partner of SECL, will grow with Samsung as it continues to play its crucial role in Saudi Arabia projects.
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| 2007 Annual Results(Jan 29, 2008) |
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Annual Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement
▶ PDF Format |
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| TASNEE, achieves 20mn accident-free man-hours(Jan 24, 2008) |
TASNEE Ethylene project in Saudi Arabia achieved 20mn accident-free man-hours as of 24 January, 2008. 20mn accident-free man-hours is what that can be achieved when 3,000 workers execute project accident-free for 26 months. This was possible thanks to OSHA and Samsung Engineering’s differentiated HSE Procedure, which stresses thorough in-advance risk management activities from the proposal stage, aside from the fact that Saudi Arabian clients have strict HSE demands and specifications.
With this achievement, Samsung Engineering has further solidified its status and image as a Global Safety Leading Company. Moreover this strong HSE capability can be helpful in winning more mega-scale contracts in Saudi Arabia. TASNEE project will be completed in July 2008 and as of end of January, 92% of construction is completed.
Samsung engineering, performing a total of 9 projects in parallel in Saudi Arabia, continues to build its record of over 45mn accident-free man-hours. |
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| Opening Ceremony for the Year of 2008(Jan 2, 2008) |
On January 2, SECL held the opening ceremony for the year 2008 at the auditorium on the 5th floor of its head office with the participation of President Yeon-Joo Jung and some 300 members. At the ceremony Mr. Jung delivered his new year’s speech, stressing that in face of rapid and drastic changes expected to occur in 2008, leadership-based high-quality integration of intensifying specialization is required under the management policy of creative innovation and challenging spirit. Furthermore he put forth ‘Simultaneous Practice of Scale-up and Speed-up’ as subject and ‘Creative Innovation and Challenging Spirit’ as policy of management.
Also the President put emphasis on four tasks- acquiring creative marketing capability, seeking new growth engine for business, improving project execution capability and putting in place global organizational culture- to realize the vision of becoming the global no.1 total engineering company. He conveyed gratitude to members for their efforts in 2007 and said that he expects all members to unite as one and head for the same direction, thereby growing together with the company. |
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| CEO's Voluntary Activities(Dec 28, 2007) |
On December 28, 2007, as part of “Serving the Community” campaign, President Yeon-Joo Jung gave donations to Sung-Yoon Kim, a child suffering from an incurable disease, to support him and his family. Kim is suffering from neuroblastoma and currently being treated at Samsung Medical Center. |
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| Korea’s first lump-sum turnkey refinery project(Dec 4, 2007) |
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Samsung Engineering expands business in the Kingdom through first award from
SAUDI ARAMCO
- Korea’s first lump-sum turnkey refinery project
- Diversification of customers by securing both state-owned companies in Saudi Arabia
Samsung Engineering Co., Ltd. (President & CEO: Mr. Yeon-Joo Jung) said that it has acquired
the world’s largest petroleum company as one of its clients. The company officially announced
that it had secured a major order from Saudi Aramco, the state-operated petroleum company
of Saudi Arabia to build a DHDT Refinery Plant, on December 1.
The refinery plant is to be located at Ras Tanura, a region approximately 70km southeast of
the Jubail Industrial Complex, situated east of Saudi Arabia. Under the contract, Samsung
Engineering will build a facility capable of processing 100 thousand Barrels of diesel daily, by
June 2010. The company will provide a complete range of engineering services from design,
procurement, and construction to commissioning, on a turnkey basis.
After having signed the contract at Saudi Aramco’s head office in Saudi Arabia, the executive
vice president Mr. Park Ki-seok of Samsung Engineering, pointed out that “for the first time in
Korea’s plant business, Samsung Engineering has won an independent turnkey refinery
project from Saudi Aramco.” He added that “this will work as a foundation for Samsung’s
serious entry into the Kingdom’s oil and gas industry, a step forward from its dominance in
the Middle East petrochemical industry.”
Samsung Engineering is currently executing eight projects in Saudi Arabia worth a total of
4 billion USD. The executive director asserted that “the project will be completed with success
based on ample local project execution footing and know-how of sub-contractors, manpower,
facilities and more.” He also stated that “with this award providing momentum, Samsung will
expand its involvement in Saudi Aramco’s large-scale refinery projects including the Jubail
Export Refinery and the Yanbu’ Export Refinery, scheduled for order release in 2008.
The company will form a well-balanced portfolio comprised of petrochemical, oil and gas
businesses to ensure sustainable steady growth.”
This accomplishment was possible due to Samsung’s past efforts to strategically diversify its
business, and build trust and reputation in the Middle East petrochemical market. Saudi Aramco
is known to have a high entry barrier, and is reputable as a major client in the global petroleum
industry. In preparation of entry into Saudi Aramco’s market, Samsung pushed forward an
omni-directional marketing scheme, including the creation of a special task force group,
dispatching delegation teams for local research, presenting project explanation briefings,
forming advanced specification study groups, and conducting project execution simulations.
Samsung Engineering is moving forward with a vision of becoming one of the World’s best
Engineering Companies. The company is further securing its grip on its four main focus
countries; Saudi Arabia, Mexico, Thailand and India, all areas in which Samsung holds a long
track-record of projects. Based on this strong business foothold, the company is expanding
and diversifying its fields to GCC countries (Kuwait, Qatar, etc.), North Africa (Algeria, Egypt,
etc.), Latin America (Venezuela, Brazil, etc.) and more. In addition, Samsung is concentrating
on advancing its world-class standard of focus products (including ethylene, EG, PDH, gas,
polymers, etc.) to world-best-in-class products, and further developing strategic representative
products (refineries, LNG, desalination, steel mills, etc.).
Including this contract, Samsung Engineering has reached a remarkable amount of order
awards surmounting to 4.3 trillion Korean won just this year.
Diesel Hydrotreater (DHDT)
A catalytic system reducing discharge of sulfur dioxide (a major environmental pollutant found
in acid rain) from Diesel. This equipment is in high global demand due to recent enforcements
of stricter environmental regulations.
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| 2007 3Q Results(Oct 25, 2007) |
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2007 3Q Results
3H Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement
▶ PDF Format |
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| Won the bid to build two gas plants worth USD1.1bn in Thailand (Sep 10, 2007) |
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→ The two plants boast world’s largest capacity, processing a total of 1.6bn cubic
feet of gas per day
→ Becoming a major player in the Thai market, a hub for plant construction in the
Southeast Asia
Samsung Engineering (President and CEO Yeon-Joo Jung) announced on Sept. 9 that it won two contracts worth USD1.1bn in total to build an ESP (Ethane Separation Plant: USD455M) and GSP-6(Gas Plant Package-6: USD620M) for PTT, a Thai state company (PTT Public Co., Ltd.).
The plants, to be built in the Map ta phut industrial complex in Rayong city, approximately 180km southeast from Bangkok, will process a total of 1.6bn cubic feet per day (ESP:800 MMSCFD, GSP-6:800 MMSCFD), boasting the world’s largest capacity. Samsung Engineering received the contract on a turnkey basis which includes engineering, procurement, construction and pre-commissioning. The projects are due for completion by March 2010.
SECL has successfully won the bidding competition where global major companies from the U.S., Germany and the U.K participated. A company official said, “The main reasons behind this include Samsung’s world’s top notch gas plant designing capability, rich experience and solid trust with clients,” and added “It is noteworthy that we have reaffirmed our status as a strong player in the Thai market, which emerged as a hub for plant construction in the Southeast Asia based on its abundant natural gas resources.”
Natural gas takes up a quarter of world’s energy consumption and has a worldwide reserve volume of 181 trillion cubic meters. Recently due to oil price hikes and intensified environmental regulations, demand for natural gas is rising. As a result it is expected that the annual investment scale worldwide will reach USD47bn by 2010. A company official said, “Gas plant is one of SECL’s core products boasting world-class competitiveness. Samsung plans to expand its market to include Quatar and other Middle Eastern regions as well as South American countries where active investments are being made.”
Samsung Engineering has won fifteen hydrocarbon plant projects since its entry into the Thai market in 1991. Among them eleven contracts were from PTT (including five gas plant projects), a Thai state company. Moreover, at present, it is successfully undertaking a petrochemical plant project for Siam Cement Public Co., Ltd., the largest private company in Thailand.
A company official noted that, “The future outlook for additional orders in the Thai market is very bright since Samsung has secured both companies, the two axis of the Thai plant market, as fixed customers. In this vein, the company is expecting positive results in the bidding war, scheduled to take place in 2008, to win GSP-7 and GSP-8 projects from PTT.
Strong performance of SECL is attributable to its strenuous efforts, preparation and enthusiasm. In other words, when Thailand was suffering from financial crisis, unlike other major companies of advanced nations, Samsung Engineering has predicted the Thai market potential and maintained its local subsidiary. Moreover it dispatched global leaders and constantly engaged in sales activities in Thailand.
Samsung Engineering raised its goal for new orders by 43 percent to KRW 5 trillion from its initial target of KRW3.5 trillion set at the beginning of year 2007 and already secured orders worth KRW 3.8 trillion. It is projected that Samsung will achieve such target without any difficulty since at present it is participating in a bid to win mega-scale projects in other major markets such as Saudi Arabia. |
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| Awarding of a gas plant project worth USD470M in Thailand(Jul 24, 2007) |
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Samsung Engineering! Awarding of a gas plant project worth USD470M in Thailand.
- Boasts world’s largest capacity, processing 800MMSCFD of gas
- Seventh project awarded by a state-run oil company
- High possibility of also winning the bid for USD600M Gas Plant Project
Samsung Engineering (President and CEO Yeon-Joo Jung) announced on July 24 that it won a USD470M contract to build an ESP (Ethane Separation Plant) for PTT, a Thai state company (PTT Public Co., Ltd.).
The plant, to be built in Map ta phut Industrial Complex, 180km southeast of Bangkok, will process 800MMSCFD of gas and produce 550-thousand tons of ethane gas per year, boasting world’s largest capacity. Samsung Engineering received the contract on a turnkey basis, which includes engineering, procurement, construction and pre-commissioning. The project is due for completion by Feb 2010.
A company official said, “This is the seventh project awarded to the company by PTT and fourth gas plant project” and added “It is very meaningful that Samsung Engineering has once again demonstrated its strong partnership with major clients in Thailand let alone in Saudi Arabia, based on deep trust and outstanding project execution capabilities.”
Meanwhile, besides awarding of this contract, Samsung Engineering is also participating in the bid to win a mega-scale gas processing plant (GSP-6) project from PTT. Regarding this, a company official said, “We have submitted our bid and now we are looking forward to positive results,” and added “Considering our extensive experience in gas projects in Thailand and its solid partnership with the owner, it is highly likely that we win the bid.”
In Thailand, more than 80% of all power is generated using gas based on its abundant natural gas resources, and energy and petrochemical sectors are fostered as key industries. Recently more investments are made in gas facilities as global demand for ethane/propane is on the rise and developments of inshore natural gas fields are underway. Samsung Engineering, which is currently focusing on improving gas plant project performance to add it to the list of its world-class products along with refineries and petrochemical plants, has plans to further expand its market to Middle East and Africa let alone Thailand.
With this contract, Samsung Engineering achieved a total of USD3.2tril in orders including USD2.9bn worth of overseas orders. In addition, it is known that there are many potential mega-scale projects for Samsung Engineering that are currently undergoing bidding process in its main markets of Saudi Arabia and Thailand., leading to the prospect that the company will exceed target of USD5tril in new orders without difficulty.
※ ESP (Ethane Separation Plant): A facility to separate ethane gas- carbon compounds belonging to the paraffin series- from natural gas. Ethane is a widely-used material for ethylene and other various chemical products. |
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| 2007 1H Results(Jul 24, 2007) |
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2007 1H Results
1H Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement
▶ PDF Format |
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| Presentation on current business performance(Jul 19, 2007) |
Presentations on current business performance were held by CFO B.B. Sohn (for domestic
employees) and Managing Director Dae-Young Ahn (for overseas employees) on July 19 and
July 25 respectively.
Sharing the company’s mid-and long-term vision announced at the conference on business
management strategy for second half of this year, they tried to create a consensus among
all staff and employees.
The presentation included announcements on business performance of the first half of 2007 and
an outlook for this year, followed by a progress review of strategic tasks.
Then there were explanations and Q&A sessions regarding the 2015 mid-and long-term vision.
They explained the basic direction and goal of business management, business structure &
strategy and roadmap to become the World’s Best Engineering Company, achieving USD12.5bn
in sales and 10% pretax income margin. |
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| Corporate Strategy Conference for the second half of 2007(Jul 11, 2007) |
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A two-day conference on business management strategy for the second half of 2007 was held
on July 11 at Phoenix Park, Pyungchang.
This conference was held to create an enterprise-wide consensus on the 2015 mid- and long-
term business management strategy through discussion and presentation sessions on core
tasks of each division and function. Attended by 170 persons including President Yeon-Joo
Jung, other executives and team managers, the conference began by awarding 543 staff and
employees a total of KRW800M for playing a leading role in enhancing corporate performance
in the first half of 2007.
Then CFO B.B. Sohn announced the present business performance, progress on yearly
strategic initiatives and 2015 mid- and long-term business management strategy. Participants
discussed issues at hand and reviewed business performance in the first half of 2007 including
new orders, sales, profit/loss.
In addition they checked progress of strategic tasks (that began in 2003) in 5 areas-
organizational culture, project executing capability, management system infrastructure, etc. -
and discussed measures for improvement. With the aim to realize our goal of becoming a
‘world- class total engineering company’ recording 12.5bn in sales and 10% in pretax income
margin by 2015, basic direction for mid-and long-term business strategy has been set, which
encompasses accelerating quantitative and qualitative scaling-up of the organization, building
management system based on each business unit and establishing global project execution
system.
The conference had 8 teams discussing and giving presentations to share main tasks of each
business division and set practical measures.
The Hydrocarbon Plant Division discussed capability-building measures for sales/estimates,
engineering, procurement and construction;
Environmental Plant Division set detailed measures to secure capabilities in water treatment
facilities operation and overseas project execution; and Industrial Plant Division discussed
strategies to promote steel mill projects and other overseas projects.
The mid-and long-term strategies discussed at the conference will go through consensusreach-
ing and opinion-gathering process and then be incorporated in corporate vision and goal for
2015.
President Jung, in his comment, stressed that “the mid-and long-term strategy will go in one
common direction only when all staff and employees share common values” and further added
that “the vision of the company and each individual shall be recognized as manifestation of
positive individualism and we all must prepare for the future by securing capabilities that
surpass business targets. |
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| 2007 IR Presentation Material -Ⅰ(Jul 10, 2007) |
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2007 IR Presentation Material
□ Company Overview
□ Market & Strategy
□ Financial Highlight
□ Appendix
▷ Go to PDF Format |
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| Samsung Engineering won USD300M petrochemical plant contract in UAE(Jun 14, 2007) |
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Samsung Engineering won USD300M petrochemical plant contract in UAE
- Expanded market reach and diversified client base to Gulf States other than Saudi Arabia
- Planned production of 750,000 tons of propylene a year
Samsung Engineering announced on June 13th that the company won USD300M contract from Abu Dhabi Polymers Company Limited, an affiliate of a state oil company in United Arab Emirates(UAE), to build petrochemical plant.
“With this award in UAE, we have laid a platform to broaden our market reach and diversify client base to GCC(Gulf Cooperation Council) states besides Saudi Arabia, the largest plant investor in our main market, the Middle East,” said Hong-Pyo Kong, vice president who is in charge of business development and marketing in the Middle East, “the achievement owes to our strong and solid reputation in Saudi market where we are currently undertaking 7 projects, amounting to USD3.5bn, and high recognition of our outstanding project execution capabilities, outstripping those of market leaders.”
The plant, to be built in Ruwais, 250km west of Abu Dhabi, UAE, is a conversion process from olefin to propylene and will produce 750,000 tons of propylene annually. With the signing, the contract will take effect from June 25th and Samsung Engineering will deliver engineering, procurement, construction and pre-commissioning in 35 month timeframe on turnkey basis. The project will be completed by May 2010.
“Recent surge in global propylene demand is substantially driving new investment in OCU(Olefin Conversion Unit) plant, which produces propylene by converting olefin compounds like ethylene and butane generated from natural gas, a feedstock that is very price competitive relative to conventional naphtha,” remarked a company official, “Including this plant, the world’s biggest OCU, Samsung Engineering is successfully carrying out OCU plant projects in Saudi Arabia and Thailand. Leveraging this track record, I think we can significantly contribute to profit creation by continuously winning similar contracts.”
To this day of the year, Samsung Engineering won KRW2.6tril, including overseas contract of USD2.3bn, of award and is actively staging business development and marketing activities to take more contracts in regions like the Middle East and Thailand. With most of such efforts will be materialized in the latter half of the year, according to the company, it would not be far-fetched to expect that the company outperform original annual target of KRW3.5tril. |
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| Credit rating upgrade(May 31, 2007) |
Domestic credit rating agencies upgraded our credit standing a notch higher from A to A+.
According to credit rating agencies, Samsung Engineering has removed potential risks and
debts from our bottom-line since 2003 and significantly pushed profitability, evidence of which
is a substantial increase in cash surplus. Improved cash flow, which has been driven by
expanding sales revenue and profits, helped us pay back KRW180bn of borrowing since
2004 and achieve zero debt.
Also it made us secure KRW460bn in cash asset and outstanding level of liquidity and
solvency. |
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| Samsung Engineering won USD950M contract, the largest plant project in history(May 31, 2007) |
Samsung Engineering won USD950M contract, the largest plant project in history
- The world’s biggest ammonia train capable of producing 3,300 tons a day
Samsung Engineering (President & CEO Yeon-Joo Jung) announced on May 30th that it was
awarded with the USD950M petrochemical plant contract from Ma’aden, Saudi state oil
company.
"We seized the biggest plant project in Samsung Engineering’s history in the world’s largest
plant market of the Middle East,” proclaimed Hong-Pyo Kong who signed Letter of Intent(LOI)
in Al-Khobar, Saudi Arabia, “The project is attributable to the close relationship and deep trust
we have built while undertaking many of the projects of SABIC, a Saudi Arabian state oil &
chemical company that owns 30% stake of the project. Significance of today’s achievement
can be found in that our technology and global competitiveness are once again proven in the
region.”
The plant, to be built in Raz Al-Zawr, 100km north of Jubail, Saudi Arabia, will have the world’s
largest train production capacity of 3,300 tons of ammonia per day. The contract enters into
effect upon signing of LOI and Samsung Engineering will carry out the whole process of
engineering, procurement, construction and pre-commissioning in agreed 43 months on
turnkey basis and the project will come to completion in December 2010.
“Plant for ammonia, process prior to chemical fertilizer production, is high-tech process
facilities requiring high temperature and high pressure process and this complexity made the
service up to now dominated by market elites,” said a company official, “we will achieve a
successful delivery of the project and emerge as a leader of petrochemical plant industry
capable of handling all highly difficult and complex caprolactam, ethylene and ammonia plants”.
Samsung Engineering, a firm that has secured comparative advantage through ahead-of-
schedule delivery and outstanding quality since it first entered Saudi Arabia in 2001, will be,
upon this new award is added to the existing list of projects, building seven plants, amounting
to USD3.4bn in total, in Saudi Arabia alone in the Middle East where various renowned plant
players are fiercely competing for leadership. “This unmatched performance in the region
where the world’s most cutthroat competition is unfolding,” boasted the company, “is a
concrete proof of Samsung Engineering’s solid reputation in global plant market.”
To this day of the year, Samsung Engineering won KRW2.2tril, including overseas contract of
USD1.6bn, of award and is actively staging business development and marketing activities to
take more contracts in regions like the Middle East and Thailand. With most of such efforts will
be materialized in the latter half of the year, according to the company, it would not be far-
fetched to expect that the company outperform original annual target of KRW3.5tril. |
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| Presentation Contest(May 23, 2007) |
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Samsung Engineering 'Presentation Contest' was held on May 23 at the 21st fl. conference
room. At the event that the session was made in English. At the event, President Jung
emphasized that "we need to prepare presentation from customer's point of view to get closer
to customers and realize a successful business deal. A person making presentation must
have a good grip on organizational and functional capabilities."
The evaluation picked Aleksandra Varova of Strategic Planning Team as grand prize winner,
Jong-Sang Lee of Environmental Overseas Business Team as runner-up, and Wook-Souk Choi
of Industrial Plant Overseas Business Team as third price taker.
Other contenders - Soon-Dan Park of Project Management Group, Ho-Jeong Kim of Process
Engineering Team, Sung-Joon Kim of Integrated Logistics & Inspection Team - received fourth
prizes. |
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| Training for subcontractor site managers(May 22, 2007) |
In a bid to level up management stand-ards of subcontractors, Construction Technology Team
held 'group training session for subcontractor site managers' at an outside training facility
during May 22 and 23.
The education, attended by about 90 subcontractor site managers representing every discipline,
was the training mainly included subcontracting, financial settlement, construction related rules
and regulations, safety management, quality and warranty control.
Construction Technology Team plans to continuously have similar session in the future. |
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| SECL Colleague Council organized ‘SECL Harmony 2007’(May 18, 2007) |
SECL Colleague Council arranged an athletic meeting named ‘SECL Harmony 2007’ to enable
enterprise-wide communication in order to build an organizational culture centered around
Leadership, Challenges and Client.
Starting with the draw on July 6, the three-month event opened on July 18. The event is being
held to promote sense of unity and team spirit through playing various games such as soccer
and tug of war.
‘SECL Harmony 2007’ will close on Oct 5, after finals and awards ceremony. |
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| General Assembly on the foundation of SEGA INDIA(May 8, 2007) |
In a bid to establish global vendor network, Procurement Team had general assembly to
commemorate the foundation of SEGA INDIA in New Delhi, India on May 8. During the session
involving 11 Indian member vendors, Samsung Engineering presented this year's management
plan and procurement vendor management strategy and awarded SEGA INDIA certificates
to the participants.
Attendees of the day shared consensus on the need to lay a platform for winwin partnership
and build long-term business relations by promoting SEGA. Procurement group will hold such
an occasion on continuous basis to sharpen cost competitive edge of our material and
equipment procurement. |
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| Presentation on the Improvement of Subcontractor management standards(May 8, 2007) |
Construction Technology Team organized 'Presentation session on measures to improve
Subcontractor management standards', which was designed to forge win-win partnership
with subcontractors, on May 8 at the 21st fl. conference room.
The session has an objective of developing plans for management innovation, construction
management and cost competitiveness by supporting consulting on overall management of
small and medium sized subcontractors with weak financial standing, and involved presen-
tations like best practice on successful localization in overseas market by Young-Hwa
Engineering and cases of quality innovation by Gwangyoung Corporation and Metro E&C.
President Yeon-Joo Jung who was there that day underscored, "let's raise management level
of both Samsung Engineering and subcontractors as we set the right standards and improve
the qualitative standards of our human resources."
Construction Technology Team envisions to increase the target of subcontractor management
improvement from 10 contractors covering 5 disciplines to 100 contractors of 11 disciplines by
2010. |
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| Safety Best Practice Contest(May 7, 2007) |
Safety Best Practice Contest, designed to promote safety awareness by exploring safety
best practices, was made on May 7 at the 5th fl. meeting room, attended by representatives
of five projects, which were either selected as best sites based on the results of headquarter's
regular safety check and guidance or recommended by each division.
Evaluated on the criteria of contribution to loss-time incident reduction, applicability and actual
usage, the honor of the best project site went to Samsung SDI PDP Line 4 project. |
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| Environmental Plant Div.'s invitation of sisterhood village(May 3, 2007) |
On May 3, Environmental Plant Division invited some 60 residents of Sangyonri, Gongju to
Tangjung TC Industrial Wastewater Treatment Plant site and introduced them on Samsung
Engineering and the project.
The division gave them tour of folk village. With a plan to consolidate support to rural village,
Samsung Engineering set a goal of making visits to sisterhood villages at least twice a year
and inviting villagers once a year to either the company or field operation. |
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| 2007 1Q Results(Apr 25, 2007) |
▷ CONTENTS ◁
Annual Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement
▶ PDF Format |
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| Book-reading relay campaign(Mar 28, 2007) |
Samsung Engineering opened book-reading campaign website and invited employees
to the campaign until March 28. A point for Education & training category is being
awarded to those who read a book a month, total two books in two months, and answer
book related questions and submit book summary report.
The campaign, in its 4th anniversary this year, is to accomplish much enhanced soft-
side competitive power and introduce culture conducive to creative ideas through
reading books. It will continue from April 1 to the end of May. |
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| Explanatory session for intensive support & guidance on subcontractor’s safety management(Mar 13, 2007) |
In the run up to the implementation of ’ Intens i ve suppor t & guidance program on
contractor’s safety management’, HSE Team, on March 13, selected the program’
s recipients and explanatory session.
The program is aimed at raising safety standards of construction contractors we will
select to continuously nurture, and assist them with voluntarily deployment and ope-
ration of ’safety management system’. Chosen contractors would be subject to inten-
sive guidance and support to push them to the level of being able to handle ’ safety
activities without any outside help’.
Contractors getting good results from this ninemonth program will receive bonus
points during safety rating and a chance to tour ’best safety practice operation in
other countries’. |
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| Winner of SHARQ 3rd Expansion Audit(Mar 13, 2007) |
On March 13, we received the honor of being chosen as the safest EPC contractor in March by
SHARQ Expansion Audit in recognition of our outstanding safety activities in our SHARQ 3rd
Expansion Project in the Kingdom of Saudi Arabia.
This honor - we received 95 points in the rating - is meaningful in that Samsung Engineering is
selected among competitors in SHARQ projects like Linde, Foster Wheeler, Stone & Webster,
and we were given this highest prize, achieving much higher scores, in particular, than Linde
in the fourth place.
At a ceremony held in SHARQ Admin building Board Meeting room on March 28, SHARQ
Expansion project leader praised our excellent safety record and urged that we sustain our
efforts. SHARQ project site will continue to keep the best safety activities with the concerted
effort of site members, subcontractors and Seoul head office. |
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| Relocation of R&D Center(Mar 9, 2007) |
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Samsung Engineering R&D Center moved to Wonchun-dong, Suwon on March 9.
Composed of 1000 pyung main building and 300 pyung annex on about 1300 pyungs of
land, R&D center will use its first floor as laboratory and second floor as office area.
Ceremony celebrating official moving-in will take place upon completion of a month-long
laboratory construction job. |
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| Q-HSE Meeting(Mar 6, 2007) |
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HSE Team had Q-HSE meeting on March 6 and presented on this year’s safety management.
During the meeting held in the order of award ceremony for subcontractor with no-incident mile-
age record and reporting on 2007 safety management plan and division-level safety manage-
ment action plan, the honor went to Sebo EMC and Gusan in the category of 1M man-hour
incident-free operation and Chungwon Engineering and seven other companies in the category
of 0.5M man-hour incidentfree operation.
President Jung said that we have to decide future direction by comparing and studying HSE
activities from the past till now and make advance preparation of safety management to keep
pace with changing product strategy. |
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| Six Sigma Champion MBB Program(Feb 27, 2007) |
Six Sigma Office of Strategic Planning Team had ’MBB program for Six Sigma Champion
project’ on February 27 at an outside training center.
This special training for line management people to help them with Six Sigma champion
project, PIP project and enhance their competencies commenced with keynote speech by
Bong-Ryul Choi, head of Industrial Plant Division, and proceeded in the order of presentation
on successful Six Sigma projects of our partners and this year’s Six Sigma deployment plan.
In the session, Mr. Choi said "Six Sigma should become a tool for innovation", and went on
to add "clearly know the role of Six Sigma belt for champion project and pull your weight
behind innovation". This year was defined as ’initial phase of making Six Sigma daily activity’
during Six Sigma deployment presentation and the participants agreed to align everyday work
and Six Sigma efforts.
Also focus will be paid on having ’1 team 1 BB system’ and ’training BBs’ to accelerate Six
Sigma drive, while implementing creative innovation based creative management by
incorporating Triz methodology with Six Sigma approach. |
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| Publication of 'CM Practical Guide'(Feb 26, 2007) |
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Si-Bong Choi, senior manager of Construction Management Team, published a book titled
'CM Practical Guide', and publication ceremony took place on February 26 with the
presence of Byung-Bok Sohn, CFO and other related officials.
The book consists of chapters like ’CM process’, ’functional construction management’,
’conflict settlement and risk management in construction project management’, and contains
construction process flowchart and functional process map to help readers see field work
at a glance. |
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| Samsung Engineering awarded with $260M Petrochemical Plant Project in India(Feb 16, 2007) |
Samsung Engineering awarded with $260M Petrochemical Plant Project in India
- Repeat business thanks to successful experience
Samsung Engineering (President & CEO Yeon-Joo Jung) announced on Feb 15 that it signed
$260M contract with Indian Oil Corporation Limited(IOCL), Indian state-owned oil company,
to deliver petrochemical plant.
The plant, to be built in petrochemical complex located in Panipat, Haryana, north of New Delhi,
will be capable of producing 320,000 tons a year of ethylene glycol(EG) using ethylene as feed-
stock. The Korean engineering company won the engineering, procurement and construction
scope of work on lump-sum turnkey basis and the project is to be completed in Dec 2009.
Upon signing the contract with President B.N. Bankapur at New Delhi IOCL headquarters,
Mr.Jung said, “it is the fifth project with Indian state companies, and this proud achievement is
attributable to our successful execution of Linear Alkyl Benzene(LAB) project, which was com-
pleted back in 2004.” He also added, “EG plant is Samsung Engineering’s globally competitive
service offering and we will solidify our presence in Indian market by delivering the best EG
plant leveraging our world leading technological base and project execution skills.”
Samsung Engineering has built outstanding and extensive track record and technological
know-how in the area of EG plant. “This project has the technological application and scale
identical to that of EG plant we successfully delivered last year in Thailand. In addition, the
world’s largest EG plant (700,000MTPA) is currently constructed by us in Saudi Arabia. So
Samsung Engineering is poised to deliver this project successfully,” commented an official
from the Samsung engineering arm.
Samsung Engineering established Samsung Engineering India Pvt. Ltd (SEI) last September in
the Indian capital in a bid to aggressively capitalize on a boom in adjacent Middle East plant
market and rapid growth of Indian market. Plus it wishes to boost localization and enhance
global project execution capabilities. Currently some 130 engineers are dedicated to
engineering work and they are expected to be key players of the project. The plan is to have
the number of staffs increase to 500 by 2010 and expand work scope to include business
development. SEI is expected to handle engineering, procurement and construction of any
project without help from Seoul head office.
Buoyed by booming overseas plant market coupled with much strengthened global com-
petencies gained through a number of business innovation drives, Samsung Engineering
attained historical performance last year of KRW3tril in new order, KRW2tril in sales and
KRW119.2bil in profit. This stellar achievement is set to continue with record KRW3.5tril in
new order, KRW2.4tril in sales and KRW145bil in net profit in the offing this year.
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| Publication of 'Case studies of technique and construction' and 'Safety management in photograph'(Feb 1, 2007) |
Q-HSE Group recently published books called 'Case studies of technique and construction'
and 'Safety management in photograph'.
The former contains the outcome of technique・quality support and guidance we provided
to project sites for the past three years in addition to other company’s cases. The book,
specifically, helps to easily grasp and understand construction quality related data by intro-
ducing readers to the cases of new construction techniques and best practices, and studies
on frequently observed failures at the field.
The latter contains safety management checklist for each discipline. Also it explains the nature
of key risks involved in each discipline and includes photo images of process flow chart,
types of incident, risk factors, safety measures and checklist to help site managers and worker
easily identify potential risks and make effective response to them. |
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| 2007 IR Presentation Material(Jan 31, 2007) |
2007 IR Presentation Material
□ Company Overview
□ Market & Strategy
□ Financial Highlight
□ Appendix
▷ Go to PDF Format |
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| 2006 Annual Results(Jan 31, 2007) |
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Annual Results
• Major Performance
• New Orders
• Sales
• Financial Index
Appendix
• Balance Sheet
• Income Statement
▶ PDF Format |
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Company Overview
