Hong Kong-listed Wonson Intl buys Jiangxi yard

Hong Kong: Metal trading firm Wonson International Holdings Ltd said it planned to buy a shipbuilder in China's Jiangxi province for HK$3.5 billion , a move to diversify into areas of high growth potential.
Wonson, which also sells communication products, said in a statement late on Wednesday that it would buy Jianxi Jianzhou Lianhe Shipbuilding Ltd Co from Million King Investments Ltd in a deal to be settled in cash and convertible notes.
Jianxi Jianzhou, located in Ruichang City in Jiangxi province, repairs and builds vessels, producing ancillary products and equipment, and makes cranes and electric appliances. [15/11/07]