China's AVIC in Talks to Merge Shipbuilding Business

The Aviation Industry Corporation of China (AVIC) is in talks to merge its shipbuilding business with two other domestic companies, according to news reports in China. The potential merger follows an announcement earlier in July that the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC) also plan to...

The Aviation Industry Corporation of China (AVIC) is in talks to merge its shipbuilding business with two other domestic companies, according to news reports in China. The potential merger follows an announcement earlier in July that the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC) also plan to combine.

Reports said that the AVIC International Maritime Holdings (AVIC Marine) division has entered talks to merge with the China Merchants Industry Holdings Company (CMIH) and China International Marine Containers (CIMC). Under the merger plan, entities under AVIC Marine and CIMC will be incorporated into CMIH, which is controlled by the state-run China Merchants Group.

Source: www.janes.com