SK E&C signs deal with Hilti Corp. on new tech
SK Engineering & Construction (E&C) signed an agreement with Hilti Corporation, a Lichtenstein-based developer and manufacturer of construction equipment and software, to jointly develop smart construction technologies.
SK E&C announced on Monday the two parties signed an agreement online on Friday to explore business models based on building information modeling, a 3-D model-based process that gives construction professionals ways to more efficiently plan, design, construct and manage buildings and infrastructure.
The online agreement was made by Yoon Hyuk-noh, managing director of the Hi-Tech Division at SK E&C, and Reinhard Schindler, Executive Vice President of Hilti.
SK E&C said it is the first construction firm in Korea to be working with Hilti Corporation, which reported 7.56 trillion won ($6.32 billion) in sales last year.
The two parties are developing building information modeling for numerous kinds of construction, including semiconductor plants, electric car battery plants and data centers. The modeling will be applied on construction sites in and out of Korea starting in the second half of this year.
SK E&C, 44.48 percent owned by SK Holdings, said it will be able to raise the quality and functions of equipment materials while cutting down on materials based on the modeling.
The agreement could provide an opportunity for Hilti Corporation to experiment with new technologies and make a foray into the domestic market, according to SK E&C.
The two parties are considering establishing a joint venture.
SK E&C will “maximize off-site construction methods from existing construction methods based on the building information modeling,” said Yoon in a statement.
Off-site manufacturing refers to the pre-assembly of construction elements or components in a factory environment before installation in a final location.
SK E&C “plans to continuously discover new market opportunities in the global market through the strengthening of strategic partnership with Hilti,” Yoon added.
BY JIN MIN-JI [email@example.com]
More in Industry
Next on the agenda
Delivering on its promises
Nowhere to go
Budding guitar heroes
Commercial vehicle sales drop 6.9 percent in 2020