Skip to main content

INCORPORATING

CHINA’s STATE SHIPBUILDING MERGER GETS GREEN LIGHT

Monday, October 28, 2019 

China's Assets Supervision and Administration Commission, part of the country's State Council, has announced that the long-anticipated merger between China's two largest state-owned shipbuilders is to go ahead.

The merger between the Shanghai-based China State Shipbuilding Corp (CSSC) and the China Shipbuilding Industry Co (CSIC), based in Dalian, is intended to make China's shipbuilding industry more competitive in the international marketplace.

The combined companies would have a revenue of around 1 trillion yuan (about US$14o billion), representing about one-fifth of the total global shipbuilding market, and on a par with the merged South Korean Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering.

Reader Comments (0)

There are currently no comments on this article. Why not be the first and leave your thoughts below.

Leave Your Comment

Please keep your comment on topic, any inappropriate comments may be removed.

Return to index

Web Analytics