CSIC Considers European Acquisitions
China Shipbuilding Industry Corp (CSIC), one of the largest Chinese shipbuilding conglomerates, has recognized the current setbacks in the country’s shipbuilding industry as a great time to undertake strategic investment moves, one of them being acquisition of some overseas yards.
To that end, with a view of technological development of its facilities, the company has already held talks with some European counterparts that might be interested in the proposal.
According to the company’s senior executive Sun Bo the recent talks failed to bring success, nevertheless, CSIC considers the failure a lesson to be learnt when dealing with other European enterprises.
What is more, the company plans to “continue pursuing the idea of potential mergers or acquisition of European shipbuilding companies”, Sino Ship news portal writes citing Mr Sun Bo.
Shipbuilding Tribune Staff, August 15, 2012; Image: csic