Mitsui & Co. Ltd.

10/11/2018 | Press release | Distributed by Public on 10/11/2018 03:44

Mitsui establishes new shipbuilding joint venture with China's Yangzijiang Shipbuilding Group and Mitsui E&S Shipbuilding

On October 10, 2018, Mitsui & Co., Ltd. ('Mitsui', Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), in partnership with Yangzijiang Shipbuilding (Holdings), Ltd. ('YZJ', Head Office: Jiangsu Province, Chairman: Ren Yuanlin, listed on the Singapore Exchange) and Mitsui E&S Shipbuilding Co., Ltd. ('MES-SC', Head Office: Tokyo, President and CEO: Tetsuro Koga), entered into a joint venture agreement to establish a new shipbuilding company in China. The joint venture company will be established after all necessary procedures have been completed.

This joint venture will aim to take advantage of YZJ's position as a leading Chinese shipbuilding enterprise with rich production capabilities, together with MES-SC's advanced technological expertise accumulated over many years, to become a globally competitive shipbuilding corporation.

By striving with our partners across the world to satisfy the diversified needs of our global customers, Mitsui aims to create and offer new value as a leading company in the ship and marine industry.

Overview of the joint venture

Location Taicang, Jiangsu, China
Commencement of operation Planned for April 2019
Scope of business Construction and sale of merchant vessels