Luxco Secures KRW 56.7 Billion in New Power Equipment Orders This Year... "Strengthening Infrastructure Competitiveness"

Luxco, a company specializing in power equipment, said on the 12th that it secured KRW 56.7 billion in new orders from January through October this year, as rising demand for power equipment at industrial production facilities, including semiconductor fabrication plants (fabs), and in the shipbuilding sector expanded its order pipeline.

Luxco develops and manufactures a range of power control systems, including switchboards for ships and land-based facilities. The company is pursuing a merger with IBKS No. 24 SPAC.

The company has secured one of the country’s three leading power equipment companies as a major customer and is steadily supplying power equipment for ships and land-based facilities. Power equipment for ships distributes and controls electricity for key onboard facilities, while land-based power equipment is used in power supply systems at power plants and industrial facilities.

Expectations for growth in the power equipment market are also rising amid the spread of artificial intelligence (AI) data centers and increased investment in power grids worldwide. In response, the company plans to strengthen the supply competitiveness of its flagship products and expand opportunities to secure new orders.

A Luxco representative said, "Supply contracts for major projects, centered on power equipment for ships and land-based facilities, have continued this year, expanding our order performance. We have succeeded in strengthening our competitiveness in the power infrastructure market on the basis of our technological capabilities and track record, so earnings growth is expected to accelerate starting this year."

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