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Largest Shipbuilder Launched in Dalian
   (2005-12-15)    Source:   

China's biggest shipbuilding company was launched in 9,Dec, through a consolidation between two state-owned shipyards in Dalian.

The new firm, based at the Dalian Shipyard and Dalian New Shipyard, has been named the Dalian Shipbuilding Industry (Group) Co. Ltd..The China Shipbuilding Industry Corp, a central government-controlled conglomerate, is the biggest shareholder of the new company, The remaining shares are held by China Construction Bank's branch in Dalian, the China Huarong Asset Management Corp and China Orient Asset Management Corp.

The creation of the firm is seen as a landmark in China shipbuilding industry's expansion plans over the next decade.

Li Changyin, general manager of the China Shipbuilding Industry, said the parent group aimed to have a shipbuilding capacity of more than 10 million tonnages with core-business turnover exceeding 80 billion yuan (about US$9.9 billion) by 2010,The China Shipbuilding Industry also expects to become one of the world's top 500 multinationals during a five-year period from 2010.

"We aim to make the new company a leader in China's shipbuilding industry amid intense competition from international and domestic rivals," Sun Bo, chairman of the Dalian Shipbuilding Industry. Sun said the company's shipbuilding capacity would reach 2.66 million deadweight tonnages next year and increase to 6 million by 2010 and to 8.5 million by 2020. Meanwhile, its actual output will top 2 million tonnages next year and grow to 5 million by 2010 and to 7.4 million in another 10 years.

 

 
 



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