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Rolls-Royce signs mou with Vinashin

Hanoi: Rolls-Royce today signed a memorandum of understanding (MoU) with Vietnam Shipbuilding Industry Group (Vinashin) aimed at helping to develop Vietnam's fast-growing marine industry. 

The scope of the partnership will include identifying potential strategic partners for development of shared business interests, which include the delivery of propulsion systems as well as developing a sourcing strategy that enhances the business activities of both parties in Vietnam and for the export market. It will also develop a sourcing strategy that enhances the business activities of both parties in Vietnam and for the export market.  

John Paterson, Rolls-Royce president - marine, said: "This agreement provides the framework for the establishment of a strong relationship between Rolls-Royce and Vinashin. I am confident that this strategic partnership will help promote and develop the fast-growing marine industry in Vietnam and also enable Rolls-Royce to expand its marine capabilities in Vietnam and the region."

The agreement also recognises Vinashin's goal of enhancing both management and technical skills of its workforce by including the development of a training structure which will call on the technical expertise of Rolls-Royce.

Being the largest shipbuilder and industrial conglomerate in Vietnam, Vinashin Business Group not only represents approximately 80% of the domestic shipbuilding capacity, but also a diversified spectrum of products which includes ship repair, shipping and logistics, heavy industries, civil and offshore constructions, financial and research service. With a corporate structure currently overseeing of a handful of more than 200 subsidiaries and affiliates with 30 shipyards which employ an overall headcount of 60,000 people, Vinashin Business Group is by far among the most active industry player in Vietnam and also being considered a new yet potentially powerful participant in the international market.  [19/03/08]

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