STX Aims for $15.2B in Sales

STX Group, one of the nation's rapidly growing conglomerates, aims to achieve $15.2 billion in total annual sales by 2010, according to www.koreaherald.co.kr) The group announced it is on track to achieve its 2010 objectives of earning $5 billion each in its three main business areas - energy, shipbuilding/machinery and shipping/logistics. In 2004, STX earned $400 million from energy, $2 billion from shipbuilding and $2.5 million from shipping, realizing a total of $4.9 billion in sales. In 2005, the company posted better results by earning $700 million from energy, $2.9 billion from shipbuilding and $2.8 billion from shipping, thus achieving $6.4 billion in total sales. STX projects its consolidated sales to reach as much as $8.2 billion this year - specifically $900 million from energy, $3.7 billion from shipbuilding and $3.5 billion from overseas shipping. (Source: www.koreaherald.co.kr)