YZJ's subsidiary picks up 40% of steel business JV

Singapore

A MAJORITY-OWNED subsidiary of Yangzijiang Shipbuilding has entered into a joint venture involved mainly in steel structure fabrication business.

YZJ said after Wednesday's trading close that its 79.6-per cent-owned subsidiary, Jiangsu Yangzijiang Offshore Engineering Co, will subscribe for a 40 per cent equity in the new JV. Some undisclosed JV partners will hold the other 60 per cent interest.