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 Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

Vane Brothers Welcomes Latest Tug Newbuild

The Vane Brothers Company, a marine transportation provider headquartered in Baltimore, has taken delivery of Kings Point, the latest in a wave of Maryland-built tugboats.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0828 sec (12 req/sec)