Hyosung Corporation, one of the leading South Korean industrial enterprises, has officially acquired all significant assets, patents, estates as well as orders and employees of the traditional Hanseatic company Lloyd Dynamowerke GmbH & Co. KG (LDW).
LDW offers special custom-made electrical motors and generators for industrial applications and is one of the technology leaders in this special market segment. Hyosung, which operates in various business sectors and has 25,000 employees in 27 countries, intends to strengthen its competence in the area of electrical machines with the acquisition of Lloyd Dynamowerke.
The well-known brand name of the company “Lloyd Dynamowerke”, which will celebrate its centennial this year, will stay the same. LDW has around 200 employees at its headquarters in Bremen-Hastedt. For customers and suppliers there will be no change in operations.
Hyosung Corporation, founded in 1966, with its head office in Seoul (South Korea), develops, produces and distributes products for various applications in the chemical industry, textile industry, information technology and construction industry. In 2013 the Hyosung Group reported a turnover of approx. 11 billion US$ with more than 25,000 employees in 27 countries.
Lloyd Dynamowerke, founded in 1915, develops, produces and distributes electrical machines and drive systems for industrial use. These products are special custom-made electrical motors and generators for applications with special requirements. The worldwide service guarantees optimal service and maintenance.
Source: Lloyd Dynamowerke GmbH