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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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