JFE, IHI to Begin Talks Possible Shipbuilding Merger

Tuesday, April 08, 2008


Japanese heavy machinery makers IHI Corp. and JFE Holdings Inc. said they have agreed to begin concrete talks on merging their shipbuilding subsidiaries, a move that would create 's biggest shipbuilder.
The move comes as Japanese shipbuilders face intensifying competition from regional rivals and , the International Tribune reported.
IHI and JFE will establish a committee to discuss the details of how operations of IHI subsidiary, IHI Marine United Inc., and its JFE counterpart, Universal Shipbuilding Corp., can be integrated, the companies said in a joint statement.
They will also discuss production details, merger ratios and ways to stay competitive in shipbuilding operations, they said.
JFE, which operates a wide range of engineering business, including steel manufacturing, boosted its stake in Universal Shipbuilding last year to 85 percent by buying a 35 percent stake from shipbuilder Hitachi Zosen Corp.

Source:  International Tribune

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

Shipbuilding

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Hyundai Heavy Plummets to Worse Loss Ever

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.2837 sec (4 req/sec)