With shipbuilding viewed as a toxic word by investors at the moment, Hong Kong-listed China Ocean Shipbuilding Group has announced that the board has proposed to change the English name of the company to China Ocean Industry Group.
The group said the new name will better reflect the company’s strategic business plan and future business development and it believes that the new name will provide a new corporate image and identity.
The group said the deal which includes manufacturing of intelligent automotive parking equipment and automotive device, would create synergy by utilizing the production capacity to the current shipbuilding production facilities of the group.
