GS E&C, Leading South Korean Construction Firm, Makes Major Investment Into UK Off-site Construction and Housing Sector

LONDON, Jan. 21, 2020 /PRNewswire/ -- GS Engineering & Construction (GS E&C), a leading global construction firm based in South Korea, has joined forces with Elements Europe, one of the UK's top modular manufacturers, by acquiring a significant shareholding in the company.

Elements Europe has successfully positioned itself as a leading organisation in the UK's off-site manufacturing and construction market, having delivered in excess of 20,000 pods and volumetric modules across the UK and sector leading projects.

Through its investment in Elements Europe, GS E&C is committed to enabling expansion and rapid scaling up of Elements Europe's existing capacity. 

In addition to hotels and student accommodation, Elements Europe is a leader in off-site residential construction, having delivered over 500 apartments and homes in recent years including two 23-storey residential towers in Greenwich and Croydon. Together with GS E&C, the aim is to increase output with the construction of a brand new state of the art facility in the Midlands and to open further factories throughout the UK rapidly scaling up their capacity to provide a new generation of service to the construction industry. Its systems and processes are fully accredited by industry warranty providers and regulators. Elements Europe will also deliver more turnkey projects from concept to completion and are actively seeking joint venture opportunities.

"We are excited to invest into Elements Europe, they have 15 years of experience and a track record of delivery. Added to that, they have built a successful platform and invested heavily into the development of their products, technology, design processes and people in order to support rapid expansion plans," commented Mr. Yoon-Hong Huh, President of GS E&C.

"We are confident that our investment in the business will enable substantial growth in Elements Europe's offering, maintaining and expanding their strong market position," added Mr. Huh.

Simon Underwood, CEO of Elements Europe, commented, "The additional investment into our company will transform the capacity of our business and comes at a time when the market is in need of increased output in this sector. Our volumetric module and pod solutions have never been in more demand. GS E&C brings substantial strength and an ongoing, long-term commitment to invest into the business to meet this demand."

"2020 is the start of a new decade of opportunity for Elements Europe and GS E&C will be able to help the industry to move on from traditional methods. As demand continues to increase in the markets in which we operate there is room for a new generation of organisation. We have always been at the forefront of this sector and look forward to the future with confidence in our ability to substantially increase output by investing in a smart way, embracing digital design and BIM technology, manufacturing in factories, and delivering solutions that can result in lower costs, higher quality, substantially quicker construction times and above all, a safer and greener environment," added Mr. Underwood.

Notes to Editor

• GS E&C acquires a significant stake in leading offsite manufacturer Elements Europe
• Elements Europe has over 15 years' experience in the off-site manufacturing and construction sector and has delivered in excess of 20,000 pods and volumetric modules throughout the UK.

About Elements Europe

Elements Europe is a leading UK volumetric modular and pod manufacturer having delivered off-site solutions to the construction sector for over 15 years. Delivering a diverse range of projects from modular housing units to student accommodation, hotels and even care homes our repertoire is broad and our product range adaptable. We can provide complete turnkey solutions from concept to completion. 

Elements Europe has manufactured over 20,000 pods and volumetric modules for towers as tall as 23 storeys and is a longstanding player in the off-site sector.

About GS E&C

GS E&C has established its status as a top-ranking company in South Korea since its foundation in 1969 by achieving tremendous growth in the fields of architecture, civil engineering, housing, plant, environment and power plant.

GS E&C has achieved over GBP 8 billion in annual global sales, especially in the housing sector, supplying more than 25,000 homes in South Korea per annum.

Through continuous development of its human resource, acquisition of technologies, determined challenges and practices, GS E&C has become one of the global leading companies.

In 2019, GS E&C ranked 24th in the Top '250 International Contractors' selected by the leading construction magazine ENR (Engineering News Record). Also in 2019, GS E&C was rated in the 'DJSI (Dow Jones Sustainability Index) Asia Pacific' for the tenth consecutive year in the DJSI evaluation.

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