China: Merger creating largest shipbuilder in world is concluded

China Shipbuilding was officially unveiled  in Beijing as the world’s largest shipbuilder. The giant corporation was created through the merger of China State Shipbuilding and China Shipbuilding Industry, the country’s two biggest shipbuilders by production capacity.

The merger was approved by the State-Owned Assets Supervision and Administration Commission of the State Council,reported Ship Technology. 

The new company has about 310,000 employees, 147 subsidiaries including manufacturing complexes nationwide and 35 institutes as well as total assets of 790 billion yuan ($112 billion), said a statement published by the conglomerate on Tuesday.

Major military hardware deployed by the People’s Liberation Army Navy, such as aircraft carriers and submarines, were designed and built by subsidiaries of the company, it said.

In addition to military products, it said, the company also has strong research and production capabilities with regard to civilian ships such as liquefied natural gas container vessels and very large cargo carriers.

“China Shipbuilding Corp will uphold national strategies about building strong marine and manufacturing industries, boosting science and technology, developing the military into a world-class force and transforming the company itself into a top-tier enterprise.

Full Content: Chip Technology

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