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Vinashin - MacGREGOR sign joint venture

Vinashin - MacGREGOR sign joint venture

Hanoi: State owned Vietnam Shipbuilding Industry Group (future headquarter impression pictured) has signed an agreement with Swedish MacGREGOR Group to establish a factory for the manufacture of shipping equipment. The agreement, signed today, will give Vinashin a 51% stake in the new Haiphong-based company - MacGREGOR Vinashin Marine Equipment Co Ltd - and is in line with Vinashin's plan to have approximately 60-70% of ships' main equipment localised by 2010. The move also strengthens MacGREGOR's presence in Vietnam, which it has identified as an upcoming shipbuilding nation.

Construction of the factory is expected to start during spring this year and it is scheduled to be up-and-running by spring 2008. The company is to initially focus on the cost-efficient manufacture of hatch covers to shipyards within Vietnam. The next phase of investment will include allow the factory to cater to the production and assembly of marine cranes, as well as the production of RoRo equipment.  [06/03/07]

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