Hong Kong: Yuantong Marine Service, a wholly-owned subsidiary of Hong Kong-listed Cosco International Holdings, entered into a memorandum with Cosco Europe in relation to the acquisition by Yuantong of the entire issued share capital of Hanyuan Technical Service Center from Cosco Europe for not more than EUR1.2m.
Hanyuan is a company incorporated in Germany and registered in Hamburg and is primarily engaged in the provision of technical support and assistance for ships.
Cosco International said incorporating Hanyuan into the global business network of Yuantong will further enhance the capability of Yuantong in procurement and supply of marine equipment and spare parts in Europe, as well as increase its maintenance service capacity for the vessels travelling in that region, and facilitate other business opportunities in that region. [19/03/13]
