1. Wonson International Holdings Ltd., a Hong Kong metals and securities trader, will diversify and buy the Jiangxi Jiangzhou Chinese shipyard for HK$3.5 billion ($449 million), aiming to broaden its revenue base by capitalizing on rising Asian demand for vessels.
2. It will compete with shipyard rivals in South Korea and Japan by
a) expanding its capacity to 250,000 tons by 2010,
b) improving its manufacturing processes and
c) maintaining low costs
[Demand for vessels is rising because of rapid economic development in Asian nations such as China and India]
[Click here for full story at: BLOOMBERG.COM]
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