For the Second Time Tianjin Xingang Ship Heavy Industry Shuts Down
Dalian Shipbuilding to Take Over Portion of Tianjin Xingang Ship Heavy Industry
Massive debt concerns strike China-based Tianjin Xingang Ship Heavy Industry causing the company to shut down and disperse its operations elsewhere.
After being in business since 1940 and already experiencing financial issues in 2000, Tianjin Xingang Ship Heavy Industry is no stranger to shut downs as this is now the second time around.
It has been decided that Dalian Shipbuilding Industry will acquire the shipbuilding portion of the business while Shanhaiguan Shipbuilding will take over the ship repairs.
