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Shanghai Zhenhua Heavy Industries investsin COSCO Shipping Holding

Logistic News - Published on Wed, 06 Mar 2019

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Shanghai Zhenhua Heavy Industries Co, Ltd signed the share subscription agreement with COSCO Shipping Holding Co Ltd for private A share of 111,111,111 at the price of CNY 3.78 for each share with the own capital of RMB?419,999,999.58. China Ocean Shipping Company, the parent company of COSCO Shipping Holding Co Ltd, is one of important customers of ZPMC for the business complementarity. The investment on COSCO Shipping Holding will improve the further deepening cooperation between ZPMC and COSCO in the port machinery, strengthen and expand the overall cooperation in the maritime engineering and services and logistics of both parties as well.

With the strategic investment, ZPMC develops the community of common future with the capital. It will stabilize and improve ZPMC’s cooperation with various terminal companies with the assistance of the industrial influence of COSCO on terminal companies in the globe. It is beneficial for the future strategic layout for long-term benefits.

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Posted By : Joykumar Irom on Wed, 06 Mar 2019
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