STX to Set Up Subsidiary in China

Tuesday, July 15, 2008

STX Shipbuilding Co said Tuesday it plans to make an initial investment of 35 billion Korean Won to set up a wholly-owned subsidiary in , STX () Business, reports said.

STX Shipbuilding said in a statement to regulators that STX () Business would be in charge of management and leasing of STX's facilities in .

STX Shipbuilding would be the first Korean company to build a shipyard in , and the first Korean-owned overseas shipyard capable of building a whole vessel. However, Samsung Heavy and Daewoo Shipbuilding have built (or are currently building) facilities outside for ship blocks, i.e. iron structures that form a ship.

STX has invested $1b in to build a shipyard comprising production facilities, engine assembly plants, a factory block and facilities for molding and forging in the first half of 2008.

STX expects sales of $3b from its shipyard in by 2012.

Source:  China Knowledge

Maritime Today


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

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

Shipbuilding

Port of Caen Orders Damen ASD Tug 2810

The Port of Caen/Chamber of Commerce & Industry Caen Normandy (Chambre de Commerce et d’industrie de Caen Normandie) has placed an order for a Damen ASD Tug 2810.

Royal Caribbean Orders 3 Ships from STX

Following the delivery of Harmony of the Seas on May 12 in Saint-Nazaire, the American group Royal Caribbean Cruises Ltd. signed an order for three additional vessels,

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Salvage Ship Electronics Ship Simulators 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: 0.0526 sec (19 req/sec)