GSI sells off subsidiary Guangzhou Shipyard Industrial

GSI sells off subsidiary Guangzhou Shipyard Industrial

Guangzhou: Guangzhou Shipyard International (GSI) has announced that the company has sold 100% equity interest in Guangzhou Shipyard Industrial to Shanghai Lingxiang, at a price of RMB973.79m.

Guangzhou Shipyard Industrial was established in August 2014, and focuses on manufacturing within the railway, shipping, aerospace and other transportation industries.

GSI said deal will help it focus on its principal business and increase the liquidity of the company. The company recently took over sister company Huangpu Wenchong Shipbuilding Company to strengthen its shipbuilding capacity. [15/12/14]

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