Hitachi Zosen, once one of the biggest names in Japanese shipbuilding, has decided to sell its small shareholding in Japan Marine United (JMU) and end its long-standing association with the company.
The outfit plans to sell its stake to fellow JMU shareholders IHI Corp and JFE Holdings.
Hitachi Zosen merged its shipyard business with the shipbuilding arm of steel maker NKK Corp in 2002 to form Universal Shipbuilding.
