Hamburg: AVIC is planning to merge two of its subsidiaries, AVIC International Beijing Co. and AVIC Dingheng Shipbuilding, an official from AVIC International Beijing told SinoShip News at SMM.
“The merger is to better integrate and optimise the group’s shipbuilding resources to deal with the current downturn of the market,” the official said.
According to the official, the two shipyards of AVIC International Beijing, AVIC Weihai Shipyard and Taizhou CATIC Shipbuilding Heavy Industry haven’t received any orders this year. Current on hand orders will keep the yards busy to the end of 2013. [05/09/12]