News
China’s shipbuilding industry announced a historic merger between two of its largest players, China State Shipbuilding Corporation (CSSC) and China Shipbuilding Industry Corporation (CSIC), on Monday. CSSC will absorb CSIC through a stock swap, creating a supergiant in the global shipbuilding industry.
The transaction, which is classified as a major asset restructuring under Chinese regulations, will not change the ultimate control of either company. However, the merger is expected to enhance operational efficiency and consolidate the companies' strengths in shipbuilding and marine engineering.
