STX Corporation
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STX Corporation STX Corporation Co., Ltd. is a Korea-Based holding company engaged in the provision of trading services. Headquartered in Gyeongsangnam Province, Korea[1] , the Company operates its business through two divisions: trade and ship maintenance. Its trade business division provides shipping and energy materials, coal, oil, steel and others. Its ship maintenance business offers cargo management, marine technical, insurance, crew management and other related services[2]. During the year ended December 31, 2006, the Company had four local subsidiaries including STX Shipbuilding, STX Engine, STX Heavy Industries, STX PanOcean and STX Energy. STX Shipbuilding recently acquired Norwegian Shipbuilder Aker Yards in order to diversify their productline. Akeryards, as one of Europe's largest shipbuilder, had technical background in Cruiseship building. The STX group, formerly Hankuk Heavy Industries, recently had an IPO of STX PanOcean. The IPO gave the group a substantial amount of cash to acquire Aker Yards. STX PanOcean (formerly Bumyang Logistics), acquired in 2006, is currently the second largest shipping company in Korea after Korea Express.
