South Korean conglomerate Hanwha Group’s impending buyout of Daewoo Shipbuilding & Marine Engineering is poised to usher sweeping changes to the world’s fourth-biggest shipbuilder when it is finally completed at the end of May.
As the first details emerged about DSME’s proposed new name — Hanwha Ocean — and a top management team ahead of a general shareholder meeting on 23 May, insiders close to the shipbuilder told TradeWinds that more than 35 of the yard’s top management team are set to be laid off.
