KHZ cuts headcount

Keppel Hitachi Zosen Group (KHZ) has completed the purchase of Keppel Marine Industries marine related businesses for approximately S$167 million ($99.97 million), and is rationalising operations to remain competitive. Headcount has been cut across the group?s three Singapore yards, which will result in savings of about S$5 million ($3.1 million) a year. Keppel?s next move will be to bring its Philippine shipyards under KHZ.