Keppel Singmarine acquires Nanton shipyard in China - to build support vessels News
// June 10, 2005
Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), the offshore and marine arm of Keppel Corporation Limited, has entered into an agreement to acquire an existing shipyard in Nantong, China.
The total consideration for the assets is S$9 million in cash.
The facility will be named Keppel Nantong Shipyard, and is expected to be operational by third quarter of 2005.
Its principal activities will be in the engineering and construction of specialised vessels such as anchor handlers and tugs.
Keppel Nantong Shipyard is located along the Yangtze River, within close proximity to supporting industries in the Municipality of Nantong, 100km north-west of Shanghai.
Keppel Singmarine is already one of the world's leading builders of small to medium-sized customised vessels including anchor handlers, multipurpose support vessels and cable ships.
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