Shanghai: Norway's I.M. Skaugen AS has received required approvals from China's Ministry of Commerce to set up holding company Skaugen China Holding Co., Ltd. Skaugen will place 10 business concerns in China in which it invests under the corporate umbrella of the holding company. The Chinese unit will be the nucleus for Skaugen to develop business further in China and operations related to China.
Skaugen's main Chinese operation is Skaugen Marine Construction (SMC), which performs construction supervision. SMC oversees construction of newbuilding ships built in China, including those by Taizhou Skaugen Wuzhou Shipbuilding, the joint venture by Skaugen and Taizhou Wuzhou Shipbuilding Industrial Co. in China's Zhejiang province. It also develops related operations by subsidiary Norgas and shipmanagement operations. Pioneering Skaugen has identified many previously little known yards around the Yangtze delta to build high spec ship types such as LPG. [31/01/08]
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