Mitsui To Post Special Loss of $126M

Friday, October 29, 1999
Mitsui Engineering & Shipbuilding Co. Ltd. will post a special loss of $126 million in the first half of 1999-2000 due to restructuring costs. At the same time, the company said it would also post a $26 million extraordinary profit in the half year to Sept. 30 on sales of part of its real-estate holdings and security of properties of a former warehouse in Osaka. Company officials said last month that it and Kawasaki Heavy Industries Ltd. have agreed to cooperate widely in shipbuilding to enhance their competitiveness against South Korean shipyards. The two major Japanese shipbuilders will tie up on design, material procurement and production in the aim of strengthening competitiveness by cutting costs and improving efficiency. Mitsui Engineering & Shipbuilding forecast in May that a parent current profit for 1999-2000 will be $23 million, up from 1998 result of $15 million.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

BAE Systems Awarded £201m to Advance Successor Sub Design

The U.K. Ministry of Defence (MoD) has awarded BAE Systems £201 million to further the design of a successor to the Royal Navy's Vanguard class submarines.   The

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

Indonesian Navy Orders MAN Engine for Training Ship

MAN Diesel & Turbo has received an order for an MAN 6L21/31 engine to power a newbuilding cadet training sailing ship for the Defence Ministry of the Republic of Indonesia.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0695 sec (14 req/sec)