Shanghai: CSSC announced that its subsidiary, Shanghai Waigaoqiao Shipbuilding, is to purchase 26% equity in Shenghui Gas & Chemical Systems (Zhangjiagang) at a cost of RMB134.68m.
After the takeover, Waigaoqiao together with CSSC (Hong Kong) Shipping, will hold a controlling 51% stake in Shenghui.
Waigaoqiao expects to enter into the small and middle-sized LNG product field through the asset purchase and to form a complete industry chain for LNG, the company said.[12/12/13]
