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Report: IHI, JFE to Merge Shipbuilding Units

Monday, January 30, 2012
Reuters is reporting that JFE Holdings Inc and IHI Corp will merge their shipbuilding units in a bid to remain competitive as demand for vessels contracts and Chinese rivals undercut operations hobbled by a strong yen. JFE Holdings and IHI said they aim to finalize an agreement by August, with operations to begin next year.
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