Ningbo Yard Suffers Closure by Samsung Heavy Industries

The first shipyard Samsung Heavy Industries ever invested in based in China, Ningo Shipyard is set to close.

Workers at Ningbo have went on strike recently as they have had issues with accepting the compensation plan that was being offered by the shipyard.

Now, Samsung Heavy Industries which controls Ningbo has decided to shut down the facility, lay off staff while also making announcement that starting on Sept 13 they expect staff to sign a redundancy agreement.

Samsung Heavy Industries will now turn its attention to their second China based shipyard, Rongcheng.