HD Hyundai to propel HiMSEN Engine forward with acquisition of global engine MRO firm

[Financial News] HiMSEN Engine, which HD Hyundai is touting as a future growth driver, is set to take another step forward. This follows HD Hyundai Marine Solution Co., Ltd.’s acquisition of Goltens, a global specialist in engine services for ships and land-based power generation.
HD Hyundai Marine Solution Co., Ltd. disclosed that it signed a stock purchase agreement on the 8th to acquire 100% of Goltens’ shares. The purchase price is $247 million, equivalent to KRW 331.5 billion.
Founded in New York in 1940, Goltens has led the MRO (maintenance, repair and overhaul) sector for two-stroke and four-stroke engines installed on ships and in land-based power plants for 85 years. Among companies other than manufacturers, it is regarded as world-class in scale and service. It has 28 repair locations and 31 corporate entities worldwide, along with around 1,300 skilled employees, and provides services to around 2,300 customers and 5,500 vessels.

HD Hyundai Marine Solution Co., Ltd. acquired Goltens because HiMSEN Engine is gaining attention not only for marine power generation but also for use in AI data centers. HD Hyundai Heavy Industries recently signed a contract worth KRW 1.6 trillion to supply HiMSEN Engines for U.S. data centers, and is moving to double production capacity, investing around KRW 900 billion to meet rapidly rising power demand. HD Hyundai Marine Solution Co., Ltd., which handles MRO for HiMSEN Engines, will apply Goltens’ accumulated expertise to strengthen its competitiveness in the aftermarket (AM) business for data-center power-generation engines.
HD Hyundai Group plans to facilitate exchanges of expertise and technology across the group to maximize synergies with Goltens. The aim is to accelerate global projects to build out land-based power generation using HiMSEN Engines.
A spokesperson for HD Hyundai Marine Solution Co., Ltd. said, “While respecting Goltens’ existing operating philosophy, we will expand our business areas and continue to seek out new opportunities in global markets.”
[email protected] Kim Yun-ho Reporter