Yangzijiang Shipbuilding Sets Up Unit for Vessel Delivery, Repair Operations in Jiangsu, China

MT Newswires

Yesterday

Yangzijiang Shipbuilding (SGX:BS6) established a subsidiary in Jiangsu Province, China, named Jiangsu Yangzi Hongda Shipbuilding and Repair, according to a Wednesday filing with the Singapore Exchange.

Shares of the shipbuilding and repair company were up over 1% in Thursday trading.

The new subsidiary has a registered capital of $100 million and will undertake the development and operation of facilities for large vessel delivery, repair and conversion services.

The capital contribution will be carried out through internal resources, the filing added.

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