Yangzijiang Shipbuilding shuffles investments
Singapore-listed Chinese shipbuilder Yangijiang Shipbuilding has announced that it has completed a series of investments and disposals in line with the group’s strategy to divert its attention from the non-core business into the core shipbuilding business.
Yangzijiang Shipbuilding has disposed of entire 40% equity interest in Jiangsu Zhuoran Yangzijiang Energy Equipment Company for RMB12m ($1.93m). It has also acquired additional 24% equity interest in Jiangsu New Yangzi Gas Company, a major gas supplier for shipyards, at RMB12.6m ($2.03m).
Meanwhile, Yangzijiang Shipbuilding has taken 100% equity interest in ship design firm Jiangsu Jiangyin-Jinjiang Industry Zone Barber-CS Marine Technology Company for RMB300,000 ($48,330), and 20% equity interest in Nanjing Saining Equity Investment Enterprise for RMB20m ($3.22m).