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Bestway sets up specialist equipment manufacturing subsidiary

Photo: Bestway Marine Bestway marine vessel (002).png
Bestway Marine & Energy Technology has invested in CNY5m ($770,000) to set up a specialist equipment subsidiary at Taizhou, Jiangsu province.

The new company’s business scope mainly covers specialist equipment manufacture, security equipment manufacture, shipbuilding, ship design and conversion, as well as offshore engineering equipment manufacture.

Bestway said that the establishment of the new subsidiary is to further strengthen the company’s comprehensive capability and innovation capacity.

However, Bestway warns operation risks to the investors regarding to the establishment of the new arm.

Bestway Marine & Energy Technology was the first marine technology company listed in Shenzhen Stock Exchange, which ended up with restructuring due to poor financial status. In June last year, the company finally entered into agreement with investors to undertake the restructuring process.

TAGS: Asia Shipyards