CSSC buys Hudong Heavy Machinery

Friday, November 10, 2006
According to China Knowledge, China State Shipbuilding Corp, one of the world's five biggest shipbuilders, will take direct control of Shanghai-listed Hudong Heavy Machinery before its planned US$800 million IPO on the Hong Kong Stock Exchange next year, according to the South China Morning Post on Thursday. Hudong Machinery, which has a 60% market share in Chinese production of low-speed diesel engines for ships, said Wednesday its two largest shareholders will transfer their combined 53.27% stake to their parent, State Shipbuilding. The transaction will not involve any cash. According to Hudong Machinery, the deal has already won approval from the China Securities Regulatory Commission (CSRC) and the State-owned Assets Supervision and Administration Commission.

Maritime Today


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

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

People & Company News

Construction of new Stockholm Norvik Port Begins

For Hutchison Port Holdings (HPH), one of the world’s leading container terminal operators, Stockholm is strategically important. In April the final permit was

The Odd Trio: HMM, Maersk and MSC

In one of the more bizarre twists in the container shipping market it emerged last week that financially troubled carrier South Korean Hyundai Merchant Marine

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

 
 
Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0824 sec (12 req/sec)