China Shipbuilding Industry Corporation (CSIC) has announced that the board has approved a plan to merge two subsidiary yards, Dalian Shipbuilding Industry (DSIC) and Shanhaiguan Shipbuilding Industry (SSIC).
CSIC plans to transfer full equity in SSIC to DSIC, so SSIC will become a subsidiary of DSIC and said the move is in line with the group’s future development strategy.
CSIC has recently started an internal integration of its subsidiary yards in an effort to optimize operations. The move is a response to the central government’s latest “supply end reform” policy in several major industries to deal with overcapacity.
In May, CSIC started preliminary works to merge two subsidiary yards in Qingdao, Qingdao Wuchuan Heavy Industry and Qingdao Beihai Shipbuilding Industry.