China Shipbuilder Goes Bankrupt

SinoShip News
Friday, July 20, 2012

The first shipbuilder in the North-East China province of Liaoning, Dalian Oriental Precision & Engineering declares bankruptcy,

According to SinoShip News, the shipbuilding company Dalian Oriental Precision & Engineering was invested in by Japanese company Oriental Precision and Dalian Shipbuilding Industry.

The shipbuilders began operations in 2007,  just before the global financial crisis ocurred.

A local bank has taken over the company, and is processing an asset inventory.



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