CSSC transfers subsidiary’s assets

Beijing: State-run shipbuilding conglomerate CSSC announced that Hudong Heavy Machine, a wholly-owned subsidiary of the company, plans to transfer 51% equity of Guangzhou CSSC Marine Diesel which has been in the red since last year.

The estimated equity transfer price is about RMB146.8m.

Guangzhou CSSC Marine Diesel lost RMB329.8m last year and RMB156.4m in the first half of this year. [15/10/14]

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