South Korean shipowner Hyundai Glovis is taking on additional business from sibling Hyundai Mobis as part of a restructuring of the group.
The shakeup announced today will cut Wilhelmsen’s stake in Glovis which is held by separately listed Treasure ASA.
The plan will see Glovis take on after sales parts and module businesses from Mobis.
In a presentation, Glovis explained the changes awere in response to enhanced business competitiveness and a rapidly changing automotive industry.
