First Profits at Rolling Stock

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First Profits at Rolling Stock

Korea Rolling Stock Corp. finally broke out its black ink supply; it showed a profit for the first time since the railway vehicle maker was established through the merger of the rolling stock businesses of Hyundai Mobis, Daewoo Heavy Industries & Machinery and Hanjin Heavy Industries in July 1999.

Oh Kang-hyun, president of Korea Rolling Stock, said Monday that the company posted 3.8 billion won ($2.9 million) in operating income for the first half on contracts worth 443 billion won. Mr. Oh said the firm will close a plant in Pusan as part of its restructuring plans.

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