Yangzijiang Group And Mitsui To Establish A Shipbuilding Joint Venture
Mitsui E&S Shipbuilding Co., Ltd. (“MES-SC”), in partnership with Yangzijiang Shipbuilding (Holdings), Ltd. (“YZJ”) and Mitsui & Co., Ltd. (“Mitsui”), has entered into a shareholders’ agreement to establish a new joint venture to operate a shipbuilding business.
The partners plan to set up the joint venture by following the necessary procedures, including examinations.
The new company will aim to build a globally competitive shipbuilding business by combining YZJ’s high production capacity, Mitsui’s extensive sales capabilities and MES-SC’s advanced technology.
Taking advantage of its technology that has been accumulated in the 101 years since its founding, MES-SC will continue to provide new value as a manufacturing company that meets the demands of a range of customers in the ship and marine industry.
Overview of the joint venture
|Location||Taicang, Jiangsu, China|
|Commencement of operation||April 2019 (planned)|
|Scope of business||Construction and sale of merchant vessels|