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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Bunker Specialists Endofa Name Hoffmann CEO

Endofa, an independent marine fuel supplier and bunker trader, informs it has named Lars Hoffmann as Chief Executive Officer. Prior to joining Endofa, Hoffmann

Homeland Security Secretary Visits Ingalls Shipbuilding

Huntington Ingalls Industries' Ingalls Shipbuilding division apprises it has hosted a visit by Secretary of Homeland Security Secretary Jeh Johnson and U.S. Rep.

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.0799 sec (13 req/sec)