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CSSC Science & Technology buying hatch cover business from TTS MarineCSSC Science & Technology buying hatch cover business from TTS Marine

CSSC Science & Technology is going to acquire 50% stakes of joint venture, Shanghai TTS Huahai Ships Equipment, from TTS Marine AB.

Katherine Si, China Correspondent

January 12, 2023

1 Min Read
Signing contract
Photo: Scott Graham - Unsplash

The acquisition will be made by CSSC Science & Technology via its wholly-owned subsidiary CSSC Huahai Marine Equipment at a total cost of RMB48.63m ($7.2m)

Upon the completion of the deal, CSSC Huahai Marine Equipment will hold 100% stakes of Shanghai TTS Huahai Ships Equipment.

TTS Huahai possesses the largest market share in marine hatch cover sector. To improve self-dependent innovation capability, breakthrough the bottleneck of key technologies and upgrade the industry chain and supply chain, the company will integrate resources of TTS Huahai and improve the overall operation efficiency of CSSC Huahai, according to CSSC Science & Technology.

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Established in 1998, Shanghai TTS Huahai mainly provide services and products of hatch cover, ro-ro equipment and accessories, as well as anchor equipment.

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CSSC

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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