FEBRUARY 5, 2013 — Singapore-listed Yangzijiang Shipbuilding has completed two acquisitions. It has acquired the remaining 40 percent of the capital of Shanghai Henggao Ships Design Co., Ltd. and an additional 20 percent of Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd.
Henggao, which is engaged in the detail and production design for a wide range of merchant ships, will become a wholly-owned subsidiary of the company.
Yangzijiang now has an 80 percent stake in Jiangsu Yangzi Xinfu Shipbuilding, whose 166 hectare Xinfu Shipyard in Taixing City, Jiangsu province, was completed in 2012 with initial production starting this year.
Yangzijiang says the Xinfu Shipyard is ideal for building large vessels. It says it has plans for building VLCCs or large containership and other larger vessel types in the yard and that "the investment in Xinfu Yard is critical for contribution to the company’s future growth as the company anticipates that the building of larger vessels and offshore vessels will be able to generate better return for shareholders."