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EU inquiry deadline into China Shipbuilding, Mitsubishi, Wartsila jv April 26


Published : Wed, 21 Mar 2007 10:32
By : Agencies
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BRUSSELS (AFX) - The European Commission said the deadline for its inquiry into China Shipbuilding Industry Corporation (CSIC), Japan's Mitsubishi Heavy Industries (MHI) and Wartsila Oyj's proposed marine engine manufacturing joint venture is set for April 26.

CSIC will hold 50 pct of the venture, while Wartsila will have 27 pct and Mitsubishi 23 pct.

The value of the joint venture is estimated at around 75 mln eur and production is set to start during the fourth quarter of 2008.

nina.chestney@thomson.com

nc/nc/ms1

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