China (CSSC, CSIC): Two major shipbuilding companies, Start of integration: China Shipbuilding Group, China Shipbuilding Group
Shanghai
July 09, 2019
July 1st, 2 major groups of state-owned shipbuilding companies
China Shipbuilding Industry Group (CSSC)
China Heavy Industries Group (CSIC)
The eight listed subsidiaries under the company issued a public announcement all at once.
The parent company and the two companies have announced that they are preparing for the integration.
Intensifying competition among shipbuilders: (see table)
In recent years, global construction demand has been stagnant, and competition for orders among shipbuilders centered on China, Japan and Korea has intensified.
World’s largest: shipbuilding group
Korea’s Hyundai Heavy Industries is also promoting the acquisition of Daewoo Shipbuilding Co., Ltd.
-JETRO
https://www.jetro.go.jp/biznews/2019/07/62fb485c320ddf87.html