Mitsui E&S Shipbuilding Co., Ltd. (MES-SC), in partnership with Yangzijiang Shipbuilding (Holdings), Ltd. (YZJ, listed on the Singapore Exchange) and Mitsui & Co., Ltd. (Mitsui), has entered into a shareholders' agreement to establish a new joint venture to operate a shipbuilding business. The partners plan to set up the joint venture by following the necessary procedures, including examinations.

The new company will aim to build a globally competitive shipbuilding business by combining YZJ's high production capacity, Mitsui's extensive sales capabilities and MES-SC's advanced technology.

Taking advantage of its technology that has been accumulated in the 101 years since its founding, MES-SC will continue to provide new value as a manufacturing company that meets the demands of a range of customers in the ship and marine industry.

Overview of the joint venture

 Location  Taicang, Jiangsu, China
 Commencement of operation  April 2019 (planned)
 Scope of business  Construction and sale of merchant vessels

Source: MES