Imabari Shipbuilding is set to acquire a 30 per cent equity stake in Japan Marine United (JMU), thus establishing a “capital and business alliance” between the two companies.
The new company, which will formally begin operations by the end of March 2020, will combine the design, construction, and marketing resources of Japan’s two largest shipbuilders into a single pool with a projected share of 10 per cent of the global shipbuilding market.
Senior executives of Imabari and JMU say the alliance hopes to make Japan’s shipbuilding industry better equipped to compete in the international market following similar mergers by major shipyards in China and South Korea.
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