Independent journal on economy and transport policy
21:14 GMT+1
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Japanese IHI, JMU and JGC will acquire 25% of the Brazilian ship yard Estaleiro Atlântico Sul
Initial investment of about 70 million euros
June 14, 2013
Japanese IHI Corporation, Japan Marine United Corporation (JMU) and JGC Corporation will constitute the special-purpose company Japan EAS Investmentos and Participações Ltda (JEI) in order to acquire a quota the Brazilian ship yard Estaleiro Atlântico Sul (EAS), that she is situated to Ipojuca in the State of Pernambuco and is one of the greatest navalmeccanici plants of Brazil.
The society of project JEI, that it will be controlled by navalmeccanico group IHI, will acquire 25% of the capital stock of EAS (operation that will happen with an increase of capital through the emission of new actions) for an initial investment pairs to 201 million real (70 million euros), with the objective to increase the quota until a third party of the entire capital stock within the end of 2013. JMU is participated with 45.9% from the same IHI and Japanese JFE Holdings (45.9%) and Hitachi Zosen (8.1%).
Yard EAS, that it is founded in 2005 and it is active from 2008, is joint venture joint between the Brazilian groups Camargo Corrêa and Queiroz Galvão. Currently the plant has orders for the construction of 20 tankers Suezmax and Aframax and of seven platforms of perforation and has in program to enter in the market of units FPSO (Floating Production, Storage and Offloading).
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