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Daewoo Wins $560 Mln. Order For Offshore Platform

2/28/2012 1:39 AM ET

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won a $560-million deal to build a part of an offshore oil platform for a Danish firm.

Under the contract with Dong E&P A/S of Denmark, DSME will deliver the topside of the platform by April 2014, the company said in a statement in Seoul on Tuesday.

Meanwhile, the company has decided to promote senior Executive Vice-President Ko Jae-ho as its Chief Executive, the Korea Herald reported.

Picked up from five candidates. Ko's nomination will be finalized at the shareholders meeting slated for next month after a meeting of the Board Directors. He succeeds Nam Sang-tae who served two consecutive terms.

A graduate of the Korea University, Ko joined DSME in 1980 and served as executive of ship sales, human resources and head of the ship business division.

by RTT Staff Writer

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