CSSC Diesel Engine will acquire stock equities of Shanxi Diesel Heavy Industry, Henan Diesel Heavy Industry and related assets from CSSC units.
Established in February 2022, CSSC Diesel Engine was a wholly-owned subsidiary of CSSC Marine Power. Upon the completion of asset acquisitions, CSSC Diesel Engine will become a holding subsidiary of China Marine Power focused on diesel engine business.
The transactions will clearly position China Marine Power to be a leading company in domestic marine diesel engine market. Diesel engine business of CSSC will be integrated and the overall business capacity could also be improved, said CSSC Marine Engine.
Before the merger between China’s two shipbuilding giants CSSC and CSIC, China Marine Power and diesel engine companies owned by CSSC and CSIC were operated independently.
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