S Korean shipbuilding giant shifts out of China


Source: indiatimes.com indiatimes.com

Key Topics in this News Article:

News Snapshot:

iStock Samsung held merger talks with another Chinese shipbuilder, but the parties failed to reach an agreement because of trademark issues. South Korean shipbuilding giant Samsung Heavy Industries ( SHI ) has recently announced the closure of its plant Ningbo in the eastern Chinese province of Zhejiang after allegedly agreeing to hand over its land to the local government for industrial renewal, sparking days of protests by laid-off workers seeking better severance pay. The SHI has two plants in China , SHI Ningbo and SHI Rongcheng . Established in 1995, the Ningbo plant is focused on the production of ship...