COSCO SHIPPING International acquired 48% equity of FBR

On the afternoon of March 31, COSCO Shipping International Trading and Zhejiang Four Brothers Rope Co.,Ltd. (FBR) signed an investment and shareholding agreement.
 
COSCO SHIPPING International Trading will inject 120 million yuan into FBR to subscribe for the registered capital of 48% of its shares.
 
The products of FBR are deeply used in the fields of ocean-going ships, offshore, deep-sea fishing and aquaculture, ports, heavy lifting equipment and water conservancy projects.
 
By investing in shares, COSCO SHIPPING International will also assist FBR to optimize their governance capabilities and improve their management level, and strive to eventually become one of the most valuable companies in the global fiber rope industry.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.