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

People & Company News

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

Aker Evaluating Future of US Shipyard, ASC

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto

MAN Propulsion Packages for New Icelandic Trawlers

MAN Diesel and Turbo inform that Icelandic owners, HB Grandi, Vinnslustodin hf. and Hradfrystihusid Gunnvör, have ordered newbuildings based on two different ship

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1435 sec (7 req/sec)