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Article: JFE, IHI ship units need more time on merger plan.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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JFE Holdings Inc.’s shipbuilding unit, Japan’s second-largest by output, said plunging demand means it needs more time to assess a planned merger with IHI Corp.’s operations, 19 months after the tie-up was proposed.“We’d like to complete an assessment of the shipbuilding integration as soon as possible,” Shinjiro Mishima, chief executive officer of the Kawasaki, Japan-based unit, Universal Shipbuilding Corp., said in an interview. “But if we make the assessment too quickly we could also overlook a risk” of holding excess capacity when there isn’t enough demand, he said.JFE and IHI started talks in April last year to ...
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