Greater China

Wuchang Shipbuilding to establish jv with Honglu Group

Shanghai: Wuchang Shipbuilding Industry Co (WSIC) is currently in talks with Anhui Honglu Group, one of the largest steel structure manufacturers in China, to set up a joint venture which will be dedicated to manufacturing high-end steel structure products.

The two companies will jointly develop a manufacturing base. WSIC and Honglu Group will invest RMB60m and RMB36m respectively to get 60% and 40% equity in the joint venture. [30/10/13]

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