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 Today


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

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

Shipbuilding

New Ferry MV Woods Hole Delivered

The newly built ferry M/V Woods Hole has been delivered to serve Woods Hole, Martha’s Vineyard and Nantucket.   Built by Conrad Industries of Morgan City, La.

Cargo Barge Launched for Alaska Marine Lines

Alaska Marine Lines celebrated the launch of its newest barge, Skagway Provider, at a ceremony July 7 at Gunderson Marine in Portland, Ore. where the vessel was constructed.

Romica Manufacturer Secures DNV GL Approval

U.K. winch maker Romica said it is to “redouble its exports drive” after its Romania-based manufacturing partner successfully acquired accreditation with DNV GL.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics 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: 0.2529 sec (4 req/sec)