Another Jiangsu machinery maker moves into newbuildings

Shanghai: Jiangsu Jiaolong Heavy Industry Group, which has a deck machinery maker Nantong Jiaolong Heavy Industry under its wing, will move into the newbuilding business sector, according to local media.
German owner DSR Lines has ordered 10 3,200-TEU containerships at Jiangsu Jiaolong worth 5 billion yuan (about $728 million), roughly $72 million apiece. All ships will be delivered by end 2011.
Established in 1958, Jiangsu Jiaolong Group has eight companies under its control, according to the Kaiji Press. In addition to deck machinery, it is inviolved in offshore work, hull block fabrication and other jobs. [27/6/08]