By Foo Yun Chee BRUSSELS, Dec 17 (Reuters) - World No. 1 shipbuilding group Hyundai Heavy Industries Holdings Co Ltd's $1.8 billion merger with rival Daewoo could inflate prices, EU antitrust regulators warned on Tuesday as they opened a full-scale investigation. Hyundai is seeking to reinforce its position as the world's biggest shipbuilder partly in response to … [Read more...]
China Establishes World’s Largest Shipbuilding Group -State Media
SHANGHAI, Nov 26 (Reuters) - China on Tuesday formally established China Shipbuilding Group, which the country's government-run broadcaster described as the world's largest shipbuilder. The group's establishment, reported by China Central Teelvision (CCTV), comes after Beijing last month approved the merger of the country's two largest shipbuilders, China State Shipbuilding … [Read more...]
European Commission Opens Antitrust Investigation Into Fincantieri’s Bid for Chantiers de l’Atlantique Shipyard
By Foo Yun Chee BRUSSELS, Oct 30 (Reuters) - Italy's bid to create a European industrial champion in the shipbuilding industry faces difficulty after EU antitrust regulators said Fincantieri's bid for Chantiers de l'Atlantique would significantly reduce competition. The European Commission said the deal between two global leaders in an already concentrated and capacity … [Read more...]
Carlyle Completes Vigor, MHI Holdings Acquisition
Global investment firm The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management today announced they have closed on their acquisition of Portland, Oregon-based Vigor Industrial and Norfolk, Virginia-based MHI Holdings. As part of the agreement, Vigor Industrial LLC, an infrastructure, defense, and maritime services company, will be merged with MHI … [Read more...]
Babcock Wins Frigate Deal as UK Bids to Restore Shipbuilding Industry
By Alistair Smout LONDON, Sept 12 (Reuters) - Babcock International won a contract to design new Type 31 frigates on Thursday as Britain seeks to revive its once-mighty shipbuilding industry. The frigates will be assembled at Babcock's facility in Rosyth, Scotland, and the program will support over 2,500 jobs across the Britain, including its supply chain. The deal will … [Read more...]