Greater China

GSI makes progress on restructure

Guangzhou: Guangzhou Shipyard International (GSI) announced that it is making progress on its ongoing restructure.

GSI said it has finished the preliminary restructuring plan, which includes acquiring parent CSSC group’s shipbuilding assets in South China and acquiring shipbuilding assets from a third party.

Currently GSI is in negotiations with the third party and doing due diligence work on the third party’s asset.

GSI suspended its stock trading on April 8, and it expects to resume by September 15 at the latest. [28/07/14]

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