Guangzhou Shipyard sells ship technology subsidiary

Guangzhou Shipyard sells ship technology subsidiary

Guangzhou: Guangzhou Shipyard International (GSI) has transferred 100% of its equity of Guangzhou Jinzhou Ship Technology to Guangzhou Ship & Marine Engineering Design Institute for RMB33.8m ($5.5m).

Guangzhou Jinzhou Ship Technology is a wholly owned subsidiary of GSI, which was established in August 2014, providing ship design, communication and mechanical technology development services.

The company has been focused on the operation and production at its new Nansha base after the acquisition of Longxue shipyard. [30/12/14]

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