News Column

China Shipbuilding to Take over Firms from Controller

February 14, 2014

SHANGHAI, February 14, SinoCast -- China Shipbuilding Industry announces that 11 of 16 companies controlling shareholder planned to inject in the company can be hardly injected in as many incur losses or make meager profits, which are not conform to interest of investors.

The company discloses that follow-up injection program of the 11 companies by the controlling shareholder. It shows that ten companies excluding Dalian Fishing will be injected in the company within three years after February 15, 2014. Dalian Fishing has been incurring losses and is insolvent.

The company will complete necessary prepositive procedures for taking over Wartsila Qiyao Diesel Company Ltd.(Shanghai) within one year after February 15, 2014.

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Source: Sinocast Transportation Beat (China)

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