(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Jisun] GS E&C is moving forward with plans to sell its subsidiary, GS Elevator. According to industry sources on the 14th, GS E&C has initiated the process of divesting its stake in the elevator manufacturing company. The company is currently in negotiations with multiple parties, including Chinese firms, about the sale. Whether the sale will involve a partial or full divestment is yet to be determined.

GS Elevator, established by GS E&C in 2021, operates manufacturing plants in Asan, South Chungcheong, and Vietnam. Despite reporting a revenue of 34.1 billion won last year, the company has not yet achieved profitability.

In addition to the potential sale of GS Elevator, GS E&C is also pursuing the sale of its Spanish water treatment subsidiary, GS Inima.

 

 

 

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