Greater ChinaShipyards
Sinopacific Offshore restructuring nears completion
China International Marine Containers (CIMC) has announced that Sinopacific Offshore has officially become an indirect wholly-owned subsidiary of CIMC Enric.
The name of Sinopacific Offshore has been changed to Nantong CIMC Sinopacific Offshore & Engineering and a new business license of Sinopacific Offshore has been issued by local authorities in Qidong in Jiangsu province.
In July, CIMC Enric acquired the full equity of Sinopacific Offshore for RMB799.8m ($117.58m), and the shipyard resumed full operations in August following the approval of its restructuring plan.
Further restructuring of Sinopacific Offshore is still in process.