AVIC International Offshore acquires 60% equity in AVIC Zhenjiang Shipyard

AVIC International Offshore acquires 60% equity in AVIC Zhenjiang Shipyard

Singapore: Singapore-listed AVIC International Maritime Holdings has announced that its wholly owned subsidiary AVIC International Offshore has entered into a conditional sale and purchase agreement with Catico Investments.

Under the agreement, AVIC International Offshore has agreed to acquire 60% share capital of AVIC Zhenjiang Shipyard Marine for $3.63m.

AVIC Zhenjiang Shipyard is a jv between Catico Investments and Jiangsu Zhenjiang Shipyard Group, which also entered into a jv with Singapore offshore operator Pacific Radiance in March.

Both AVIC International Offshore and Catico Investments are affiliate companies of AVIC Industrial Corporation of China.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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