Yangzijiang Shipbuilding acquires remaining stake in Huayuan Logistics

Yangzijiang Shipbuilding acquires remaining stake in Huayuan Logistics

Chinese shipbuilding group Yangzijiang Shipbuilding has announced that it has acquired the remaining 40% equity in its subsidiary Huayuan Logistics.

Huayuan Logistics will now become a wholly-owned subsidiary of Yangzijiang.

Nanjing-based Huayuan Logistics is mainly involved in the leasing and chartering of vessels, and also owns cargo transportation company Shanghai Huayuan Shipping.

The total value of the transaction is RMB298.2m ($43.66m).

Yangzijiang says the acquisition is in line with the group’s strategy to re-diversify its offerings beyond its core shipbuilding business.

“The acquisition would support the existing business of the group positively. Further, the Group has constantly been seeking opportunities in sectors with good prospects for long-term growth to enhance its value proposition to its shareholders and customers,” Yangzijiang said in a release.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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