China Aerospace Science to take over Dayang Offshore Equipment

China Aerospace Science to take over Dayang Offshore Equipment

Chinese state-run China Aerospace Science & Industry Corporation has announced that a subsidiary of the company has signed share transfer deals with two independent shareholders of Jiangsu Dayang Offshore Equipment to acquire a total of 65% equity in the shipyard for RMB85.8m ($12.6m).

Jiangsu Dayang Offshore Equipment, formerly Taixing Sunhoo Shipbuilding, was established in 2007 and mainly builds offshore support vessels. The shipyard applied to list on NEEQ (National Equities Exchange and Quotations) at the end of 2015, however the listing eventually fell through due to the shipyard’s poor financial status.

Upon completion of the takeover, Dayang Offshore Equipment will quit the commercial shipbuilding business and focus on military training ships.

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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