[Yonhap News Photo]
South Korea's STX Heavy Industries said Thursday it was considering the sale of its plant business as part of efforts to normalize its troubled operation controlled by a bankruptcy court.
STX Heavy, which specializes in plant design and manufacturing of engines, core materials and equipment, said in a regulatory filing: "We are considering selling it as part of efforts to normalize our operation... But nothing has been decided yet."
The company also said it has no plan to merge with its sister firm, STX Engine, a ship engine builder. The debt-stricken STX Group has presented a rehabilitation program for its shipbuilding arm, STX Offshore & Shipbuilding Co., and other units.
There have been unconfirmed reports that the bankruptcy court is trying to sell the country's fourth largest shipyard with its two subsidiaries -- Goseong Offshore & Shipbuilding and STX France. The shipyard filed for court receivership in May due to snowballing debts.
Goseong specializes in building oil and container tankers while STX France is a cruise ship-producing subsidiary based in France.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
