China's largest shipbuilders plan to mergeChristian Fernsby ▼ | July 2, 2019
China's two largest shipbuilders are planning to merge, their listed arms said in separate exchange filings on Monda.
Asia China Shipbuilding Industry Corp
A slew of units belonging to the two companies, such as CSSC Offshore & Marine Engineering Group Co Ltd, China Marine Information Electronics Co Ltd and Hubei Jiuzhiyang Infrared System Co Ltd issued similar statements confirming their parent companies' plan of consolidation.
The two companies have multiple shipyards across China whose products range from aircraft carriers to commercial ships which carry oil and gas. ■