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Samsung Heavy snaps up 10% of Brazilian shipyard

Samsung Heavy snaps up 10% of Brazilian shipyard

Seoul: South Korea's Samsung Heavy Industries Co. (010140.SE) Tuesday said it paid $22 million for a 10% stake in a Brazilian shipyard to be completed by September 2009.
The 160,000 ton-a-year shipyard has already received an order to build an oil tanker, a Samsung Heavy spokesman said.
Petroleo Brasileiro (PBR) plans to order 40 drilling ships worth $30 billion over the next 10 years, the Samsung spokesman said, "our investment in the Brazilian shipyard will help bring some drill ship orders." [17/6/08]

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