17/03/2015at 11:00

China's yard giant to divest shipyard business

Struggling Rongsheng Heavy Industries has signed a memorandum of understanding to divest the company's shipyard business, reports Seatrade Global.

BY KATRINE GRØNVALD RAUN

One of China's biggest yards is investigating a number of ways to get out of the company's economic troubles of a billion dollar deficit. Rongsheng Heavy Industries now has plans to sell the company's shipping yard business and focus on the energy business instead, according to several media sources.

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