China Cosco Shipping Corp (CoscoCS) is taking control of shipyards owned by its Singapore-listed subsidiary Cosco Corp.
As part of its ongoing restructuring, CoscoCS will acquire Cosco Shipyard Group, Cosco Nantong Shipyard and Cosco Dalian Shipyard.
Cosco Corp said the purpose of the restructuring is to centralise operations and management.
Late last year, CoscoCS revealed plans to form a new shipbuilding entity to be named Cosco Shipping Heavy Industry.
Besides
