Date
18 August 2017

ZPMC mulls German shipyard buy, paper says

Shanghai Zhenhua Heavy Industries Co Ltd. (ZPMC), the world’s largest maker of cranes and large steel structures, is in talks to buy a German shipyard, part of its drive to diversify and expand its maritime engineering business, China Daily reported Tuesday. ZPMC is buying JJ Sietas Schiffswerft, a Hamburg-based shipyard with a 300-year history, ZPMC vice president Huang Qingfeng was quoted as saying. In October, Huang visited the shipyard and talked with local politicians and business executives. The Chinese company made an offer for the bankrupt shipyard to boost its research and development capability for vessel engineering, the reprt said. ZPMC’s parent company, China Communication Construction Co., already owns a US-based maritime engineering center, Friede Goldman United, which provides design services and equipment for offshore drilling rigs.

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