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Bestway sets up specialist equipment manufacturing subsidiaryBestway sets up specialist equipment manufacturing subsidiary

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

Katherine Si, China Correspondent

January 29, 2021

1 Min Read
Bestway marine vessel (002)
Photo: Bestway Marine

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.

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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