What Speco does

SPECO Co., Ltd. is a South Korea-based industrial plant manufacturer founded in 1979 (originally as Shin Saeng Plant) and listed on the KOSDAQ market since November 1997 under ticker 13810. The company designs, manufactures, and services capital equipment for road construction, naval defense, and wind energy applications, with operations spanning 60+ countries and a wholly-owned wind tower manufacturing facility in Monclova, Mexico. Its product portfolio comprises five core lines: asphalt plants (BM, MBM, SR series, up to 240 T/H capacity, featuring 3D simulation quality control and Industry 4.0 smart factory controls), concrete batching plants (STBP, SMBP series up to 360 m³/hr), crushing plants (including a USA-patented impact crusher using chrome-moly steel shaft technology), maritime defense equipment (rudder roll stabilization systems, fin stabilizers, and LIPSTRONIC waterjet propulsion supplied to Korean naval shipbuilders for FFX frigates, KDX destroyers, and LST ships), and wind turbine tubular towers. The company also offers a 4-year spare parts warranty program across 12 parts categories and an AI-powered customer support chatbot (SPECOAI) for Korean operators.

The business operates a project-based, inquiry-quoted direct enterprise sales model with regional sales offices and distributors in Russia, Kazakhstan, Vietnam, the Philippines, and Saudi Arabia. Revenue is generated primarily through one-time hardware sales of plant equipment bundled with installation, commissioning, training, and after-sales service. SPECO holds a portfolio of patents covering aggregate dryers, screeners, mixers, dust collectors, asphalt recycling, and ship component designs, plus trademarks registered in Russia and South Korea. The company maintains ISO 9001 certification (since 1996) and has technical alliances with Germany's ALCON (since 1982) and France's LAB (since 1998). Notable named customers include Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, STX O&S, and Hanjin Heavy Industries & Construction in the naval segment, and a diversified base of road construction companies and government infrastructure agencies globally. The company has received three Prime Minister's Awards for export achievement ($20M in 2007, $30M in 2010) and was designated a Global Hidden Champion in 2018. KOSDAQ listing since 1997; Samick Musical Instruments Co., Ltd. is a known strategic investor (KRW 12 billion investment in 2002).

Name

Speco

Legal name

SPECO Co., Ltd.

Website

https://speco.co.kr

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

51–100 employees

Short description

SPECO Co., Ltd. is a South Korea-based industrial plant manufacturer (KOSDAQ-listed, founded 1979) producing asphalt, concrete, and crushing plants, naval defense stabilization systems, and wind turbine towers, serving road construction companies, Korean naval shipbuilders, and global wind farm developers across 60+ countries.

Ownership category

akta.pro rank

Product category

Industrial Plant Equipment

NAICS

Construction Machinery Manufacturing (333120), Turbine and Turbine Generator Set Units Manufacturing (333611), Other General Purpose Machinery Manufacturing (3339)

SIC

General Industrial Machinery & Equipment, Nec (3569)

akta.pro primary industry

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

Keywords

• Asphalt mixing plants
• Concrete batching plants
• Crushing equipment
• Naval stabilization systems
• Wind turbine towers

Headquarters

HQ city

Chungbuk

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Industrial Plant Equipment Sales: Manufacture and sale of asphalt plants, concrete plants, and crushing plants for road construction and infrastructure projects globally. Revenue is project-based with one-time equipment sales, installation, and commissioning services. Equipment ranges from stationary to mobile units with various capacities.
2. Maritime Defense Equipment: Production and supply of naval defense equipment including rudder roll stabilization systems, fin stabilizers, and waterjet systems for warships, naval vessels, and maritime applications.
3. Wind Power Tower Manufacturing: Wind turbine tower manufacturing from facility in Monclova, Mexico, exporting to wind farm developers globally. State-of-the-art plant technology producing tubular towers for wind energy sector.
4. Spare Parts and After-Sales Service: 4-year spare parts warranty program and A/S (after-sales) service for installed equipment. Parts include pneumatic parts, motor and gearbox parts, scale parts, pump parts, bearing parts, dust collector parts, belt and bucket conveyor parts, electric parts, and unit-specific parts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

SPECO manufactures and sells industrial plant equipment for road construction, infrastructure, defense, and renewable energy sectors. Core offerings include asphalt mixing plants, concrete batching plants, crushing and screening plants, maritime defense equipment (rudder roll stabilization systems, fin stabilizers, waterjet propulsion), and wind turbine tubular towers produced at a Mexico facility. The company also supplies a full spare parts gallery backed by a 4-year warranty program.

Product overview

SPECO is a Korean industrial plant manufacturer operating since 1979, listed on KOSDAQ. The company offers five core product lines: (1) Asphalt Plants (BM/MBM/SR series) for road construction, (2) Concrete Batching Plants (STBP/SMBP series) for construction sites and highway pavement, (3) Crushing Plants with feeders, crushers, and screens for aggregate processing, (4) Maritime/Defense Equipment including rudder stabilization systems, waterjets, and fin stabilizers for naval vessels, and (5) Wind Power tubular towers manufactured in Mexico. The product portfolio is supported by a comprehensive spare parts gallery offering 12 product categories and an AI-powered customer support chatbot.

Differentiator

Problem solved

Functional benefit

Products and services

• Asphalt Plant (BM Series) Asphalt mixing plants manufactured in Korea for road construction and highway pavement projects, featuring 3D simulation quality control, preventive maintenance systems, and Industry 4.0 smart factory technologies. Available in stationary, mobile, and recycling configurations with up to 240 T/H capacity.
• Concrete Plant (STBP/SMBP Series) High-performance concrete batching plants with twin-shaft mixers, automatic computer control systems, and modular design for rapid installation. Available in stationary and mobile configurations with up to 360m³/hr capacity, intended for construction sites and highway pavement projects.
• Crushing Plant Complete crushing and screening equipment for aggregate processing, including Grizzly Feeders, Jaw Crushers, Cone Crushers, Impact Crushers (USA-patented with chrome-moly steel shaft), and Vibrating Screens. Equipment ranges from primary to tertiary crushing applications.
• Maritime Defense Equipment Naval defense equipment including Rudder Roll Stabilization Systems, Waterjet propulsion systems, and Fin Stabilizers for warships. Supplied to Korean shipbuilders including Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering for vessels including FFX frigates, LST landing ships, and KDX destroyers.
• Wind Power Tubular Towers Wind turbine tubular towers manufactured at the Monclova, Mexico facility with 225,066 square meters of land area and 15,838 square meters of main factory space, including plate shot blasting, shell making, section making, and painting production lines with 170 section storage capacity. Exported globally to wind farm developers.
• Spare Parts and After-Sales Service Replacement parts and components for asphalt and concrete plants, including pneumatic parts, motors and gearboxes, scale parts, pump parts, bearings, dust collector parts, conveyor parts, electrical parts, and steel castings. Backed by a 4-year spare parts warranty program.

Quantifiable outcome

• Max 240 T/H capacity asphalt plant
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, minor and strategic.

• Hyundai Heavy IndustriescoreStrategic or Co-development PartnerSPECO supplies rudder roll stabilization systems, fin stabilizers, and maritime defense equipment for naval vessels built by Hyundai Heavy Industries. Partnership includes supply for FFX-II frigates, LST-II landing platform docks, and ATX vessels.
• Daewoo Shipbuilding & Marine EngineeringcoreStrategic or Co-development PartnerSupplies naval stabilization and defense systems for Korean warships built by DSME including FFX-II frigates and KDX series destroyers.
• STX O&SminorStrategic or Co-development PartnerSupplied fin stabilizers for FFX No.6 naval vessel.
• Hanjin Heavy Industries & ConstructioncoreStrategic or Co-development PartnerWaterjet and maritime equipment supplier for naval vessels including LPH class ships (10,000 ton) and PKG-A patrol vessels.
• LAB (France)strategicTechnology or IntegrationTechnical alliance with France-based LAB (1998) for technology transfer and development in industrial plant equipment.
• ALCON (Germany)strategicTechnology or IntegrationTechnical alliance with Germany-based ALCON (1982) for industrial plant technology development.
• SPECO RussiacoreChannel Partner/ Reseller/ DistributorRegional sales office and distributor for Russia market (speco-plants.ru)
• SPECO KazakhstancoreChannel Partner/ Reseller/ DistributorRegional sales office and distributor for Kazakhstan and Central Asia market (speco-plants.kz)
• Halla Heavy IndustriesstrategicStrategic or Co-development PartnerAcquired plant business of Halla Heavy Industries in 1999, expanding industrial plant manufacturing capabilities.

Scale indicators7 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Gencor Industries: US manufacturer of asphalt plants, bituminous processing equipment, and material handling systems. Directly competes with SPECO in asphalt plant equipment for highway and infrastructure projects.
• Ammann Group: Swiss-based global manufacturer of asphalt mixing plants, concrete plants, and road construction equipment. Direct competitor to SPECO's flagship asphalt and concrete plant product lines, with a comparable project-based sales model and global footprint.
• BHS-Sonthofen: German manufacturer of industrial mixing, crushing, and processing machinery. Overlaps with SPECO's mixing and crushing plant offerings for industrial and infrastructure customers.
• Wirtgen Group: German road construction equipment specialist (now part of John Deere) producing asphalt and concrete plants as well as milling and paving equipment. A leading global competitor in the same road construction equipment category as SPECO.
• Astec Industries: US-based manufacturer of asphalt plants, concrete plants, and aggregate processing equipment. Directly competes with SPECO across asphalt, concrete, and crushing plant lines serving road construction and infrastructure customers worldwide.
• NFLG (Fujian South Highway Machinery): Chinese manufacturer of asphalt mixing plants, concrete batching plants, and crushing/screening equipment. Closely comparable product portfolio to SPECO's three core plant lines, with strong presence in emerging markets where SPECO also competes.
• CS Wind: Korean-headquartered wind turbine tower manufacturer with global production footprint. Direct competitor to SPECO's wind tower manufacturing business, particularly for offshore and onshore wind projects.
• KPI-JCI (Astec Aggregate & Mining Group): US-based manufacturer of crushing, screening, and material handling equipment for aggregate producers. Directly comparable to SPECO's crushing plant product line, including jaw, cone, and impact crushers.

Others

• Hyundai Heavy Industries: Key Korean naval shipbuilder and customer for SPECO's maritime defense equipment. Included as a strategic counterpart rather than a direct competitor, but central to SPECO's defense revenue stream.

Broad incumbents

• Siemens Gamesa: Global wind turbine OEM and tower manufacturer. Comparable to SPECO's wind tower business as a major customer/competitor in the wind turbine supply chain, though broader in scope (turbines, service, offshore).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCBRqIePOTWG4MCamf_l9ecw
• Facebookfacebook.com/SpecoPlants

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Speco