Korea/United States: Hyundai Heavy Industries and American Electric Power Announce Plans to Forge Partnership
Since the blackout accident in the Northeast United States in August 2003, utility companies have been focusing their efforts to assure a safe and reliable network, paying close attention to the products used in the transmission system. In October 2004, American Electric Power (AEP; Columbus, Ohio), one of the largest utility companies in the United States, and Hyundai Heavy Industries Co. Ltd. (HHI; Seoul, Korea) forged a business partnership to ensure the safety and reliability of the products used in the transmission system. As the first step to build this business collaborative relationship, HHI will supply around 30 power transformer units including 200 MVA transformers. The business relationship includes a three-year supply contract for AEP's sub-transmission projects. This agreement is the direct result of earlier initiatives, whereby AEP gained confidence with HHI's product quality and past performance.
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