Hailu Heavy Industry invests in offshore engineering jv

Shanghai: Hailu Heavy Industry announced that the company is to invest RMB12m to set up an offshore engineering jv through its subsidiary.

The new jv will be engaged in offshore engineering, researching, manufacturing and sales of ship equipment, according to the company’s announcement.

The investment will not affect the normal capital flow of the company, and could improve the company’s competitiveness and profitability in the future, Hailu said. [13/12/13]

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