YangziJiang: Add to growing trends of increasing consolidation amg Chinese Shipyards, after grp bought 100% stake in Jiangsu Zhongzhou Marine Eqpt (JZME) for Rmb420m ($82.5m). JZME owns shipbuilding facilities of 350k sqm yard space and 430m deep water coast line. Grp highlights the vertical acquisition is expected to shorten its production cycle by taking over full control of the fabrication process and to further improve the grp's profitability and margins….
JZME's net profit from 1 Jan to 30 Nov this yr stood at rmb49.37m, and net book value of rmb290m at end Nov. Independent valuer Suzhou Wanlong Assets Appraisal valued JZME's net asset at rmb351m, indicating a 20% premium paid on JZME…
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