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Imabari Shipbuilding and Japan Marine United Corporation (JMU), the largest and the second-largest shipbuilders in Japan, have reached an agreement to form a joint venture in an effort to better compete on the global shipbuilding scene.
To be established in October this year, the JV will sell and design all commercial vessels except liquefied natural gas (LNG) carriers.
The new company, Nihon Shipyard, will be 51 per cent owned by Imabari and 49 per cent by JMU. The Tokyo-headquartered business will have around 500 employees and will be established with a capital of about JPY 100 million (USD 924,100), the duo said in a statement.
More to follow…
World Maritime News Staff