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  4. S.Korea's Hyundai Mobis aims to separate key businesses into new units
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S.Korea's Hyundai Mobis aims to separate key businesses into new units

SEOUL (Reuters) -South Korean auto parts maker Hyundai Mobis Co Ltd said on Thursday it was considering separating its modules and key parts businesses into new wholly owned units...
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S.Korea's Hyundai Mobis aims to separate key businesses into new units © Reuters. FILE PHOTO: The logo of Hyundai Mobis is seen during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -South Korean auto parts maker Hyundai Mobis Co Ltd said on Thursday it was considering separating its modules and key parts businesses into new wholly owned units in an effort to enhance each segment's expertise and maximise efficiency.

Hyundai Mobis, an affiliate of automaker Hyundai Motor Co, said in a regulatory filing it aims to hold a board meeting in September to approve plans to separate the businesses, expected to be launched in November.

The new units will be in charge of manufacturing operations, including facility and labour management, while the central management of the company will be focusing on securing future mobility technologies, as well as developing new products.

Shares of Hyundai Mobis closed down 3%, versus the benchmark KOSPI's 0.3% fall, before Hyundai Mobis disclosed its plans.

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01-05-2024 10:45:17 (UTC+7)

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 GBP/USD1.2475↑ Sell
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 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
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 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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