GSI to move base to Longxue

Guangzhou: CSSC-affiliated Guangzhou Shipyard International (GSI) is going to gradually move its shipbuilding base to Longxue Shipbuilding from this year. GSI acquired Longxue Shipbuilding in January.

“The acquisition of Longxue Shipbuilding was the preparation for the relocation, we will gradually move our base to Longxue, and also take the chance to expand our capacity,” Han Guangde, president of GSI said in the latest shareholders’ meeting.

According to Han, GSI will have a more advanced shipbuilding facility and larger working space to enhance the company’s capability of building larger vessels.

GSI announced the suspension of its stock trading on April 15 for 30 days due to the major restructuring deal, and today the company said it will suspend trading for a further 30 days. [15/05/14]

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