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Samsung Procures Contract for U.S. Navy

Mar 10,1999
Samsung Heavy Industries on March 10 announced that it won the bid for a U.S. Navy contract to supply 21 cranes. The total value of the cranes is 180 million dollars.
It is the first time that a company other than an American-based one will supply military equipment for the U.S. Navy.
Samsung defeated rival American and English competitors to win the right to provide cranes, exclusively, for the next five years.
It is a definite turning point for Samsung since the U.S. Navy is a big purchaser of munitions and supplies and it only accepts products of the highest standard.
A source from Samsung said, 'We have won in the biggest market in the world, and it will help us advance further in other foreign projects in the future.'


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