Rongsheng goes high speed

摘要

CHINA'S JIANGSU Rongsheng Heavy Industries, which specialises in shipbuilding and offshore engineering, has acquired 100% of the equity interest of the Quanchai Group for RMB2148 870 000 (US$330M). The transaction allows Rongsheng to position itself as a diversified heavy industry conglomerate. Leveraging on the Group's capability in producing low-speed diesel engine, the transaction enhances the Group's ability to enter production of highspeed diesel engines, which is the principal business con- ducted by Quanchai Engine. It also enables the Group to secure a stable and reliable supply of engine parts, which in turn will aid the sustainable growth of the Group's engineering machinery segment.