2011 Hyundai Sonata Hybrid Damaged-salvage on 2040-cars

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Business booming for Hyundai in 'Bama, new production record set

Although it may be a distinction of mild importance on a global scale, Hyundai announced that last month it set an all-time sales record for the month of April. Digging a little deeper, Hyundai-Blog - an enthusiast site not affiliated with the South Korean automaker - is reporting that another record was set: to go along with 63,315 total sales in April, Hyundai Motor Manufacturing Alabama assembled a record 37,372 Elantra and Sonata sedans.
This doesn't mean that half of Hyundai's April sales came from the Montgomery, AL plant, but it's still a telling sign of just how important this new factory is. The Elantra and Sonata are by far Hyundai's most popular models, accounting for almost 63 percent of all Hyundai sales so far in 2013. Congrats on the achievement, Hyundai.

Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.

Salvage firm asks judge to halt rival's removal of capsized ship and its 4,200 cars

SAVANNAH, Ga. — A maritime salvage company is asking a federal judge to stop the Coast Guard and a rival firm from carrying out their plans to remove a cargo ship that overturned five months ago on the Georgia coast. The multiagency team overseeing removal of the South Korean freighter Golden Ray recently announced plans to carve the 656-foot-long ship into eight giant pieces that would be loaded onto barges using a towering crane in the waters of St. Simons Sound near tony St. Simons Island. Removal is to start soon after crews surround the wreck with a large mesh barrier to trap stray debris, expected to take about a month. The Golden Ray heeled over minutes after undocking in the Port of Brunswick on Sept. 8, 2019, and its crew of 23 was rescued. It has been shorted up with thousands of tons of rocks to prevent it from listing further, and its nearly full fuel tanks have been pumped out. A key part of the dispute involves the fate of its cargo of 4,200 cars. The salvage company Donjon-SMIT filed a complaint Thursday in U.S. District Court seeking a judge's injunction to stop any removal efforts. The company said the Coast Guard violated a 1990 federal law intended to improve oil spill responses by allowing the ship's owner to drop Donjon-SMIT as its pre-designated salvage responder. Donjon-SMIT said the ship's owner, identified in the court filing as GL NV24 Shipping Inc., had rejected its plan to remove the ship “in small sections weighing approximately 600 tons (544 metric tonnes)” so crews could systematically remove the thousands of cars still inside the ship's cargo decks. The ship is filled with new Kias and Hyundais built in Mexico, and some cars from other companies, that were bound for the Middle East. The company said the owner instead hired another firm, T&T Salvage, willing to remove the vessel in larger chunks of up to 4,100 tons (3,720 metric tonnes). The multiagency command team released some details of the plan Feb. 5, but has not said what it intends to do about the cars inside. “In short, the cars need to be safely removed to avoid environmental disaster,” Donjon-SMIT said in its legal filing. Campbell Houston, a spokesman for the multiagency command overseeing the salvage operation, had no immediate comment when reached by phone Friday. T&T Salvage did not immediately reply to an email message seeking comment.