Austal Acquires Philippines Shipyard
Leading global shipbuilder and defence prime contractor Austal has acquired a shipyard in the Philippines as part of its strategy to regionalise its manufacturing base for commercial vessels. The $7 million acquisition of the former FBMA Marine shipyard enables Austal to establish shipbuilding operations at the West Cebu Industrial Park at Balamban, in the province of Cebu. Austal will invest a further $5 million to enhance the shipyard’s existing facilities. Austal plans to commence vessel construction in the first quarter of 2012…
Cebu Shipbuilding Facility Set for $100m Expansion
Cebu-based shipbuilding company Tsuneishi Heavy Industries Cebu Inc. (THICI) has committed to invest US$ 100 million or roughly P5 billion in the expansion of its shipyard in Balamban town in Cebu's western seaboard. THICI, a joint venture between Tsuneishi Corp. of Japan, one of the world's leading shipbuilders, and Aboitiz and Co., has been building 58,000 deadweight-ton (dwt) bulk carriers since 1995. These ship were sold around the world from their Japan base. Under the expansion plans, the company would add another 86 hectares to its current work area of 40 hectares at the West Cebu Industrial Park in Balamban, Cebu. The expansion would enable THICI to build bulk carriers as big as 170,000 dwt from 58,000 dwt and almost double its production capacity from 14 ships a year to 24.
Shipbuilding Firm to invest $100m in 2007 expansion
The town of Balamban in the Philippines is expected to grow further next year with the expansion of a large ship manufacturing company located in the municipality. In an interview, Aboitiz and Co. president and chief executive officer Jon Ramon Aboitiz said Tsuneishi Heavy Industries Inc. (THII) would invest some $100 million for the expansion of its shipbuilding capacity, which will begin next year. In a related development, AboitizLand chief executive officer Roberto Aboitiz clarified that the company’s plan to invest at the South Road Properties (SRP) is not yet in its final stage. But, if ever the Aboitizes decide to invest at the SRP, it would not duplicate the development at the Aboitiz-owned and managed Mactan Economic Zone (MEZ) 2.
