CSIC merges subsidiaries to widen product pipeline
China Shipbuilding Industry (CSIC) has decided to transfer the assets of subsidiary company, Qingdao Beihai Shipbuilding to another subsidiary, Wuchang Shipbuilding.
The state-owned CSIC told China Daily that this was to widen the two subsidiaries’ possible offerings to customers.
Wuchang specialises in building warships, law-enforcement vessels, offshore engineering ships and large-scale steel structures. These are areas of expertise CSIC believes Qingdao needs to strengthen its portfolio instead of remaining focused on large-scale bulk vessels.
"The integration (of Qingdao and Wuchang) would have complementary advantages,” the CSIC press office said, according to China Daily. “The new shipyard would be capable of producing not only military ships, including the next-generation frigates and amphibious warfare ships, but a wide range of commercial ships such as chemical tankers, mega-container ships and wood-cargo vessels."