Jurong acquires majority stake in JSMET

SembCorp Marine?s wholly-owned subsidiary, Jurong Shipyard Pte Ltd (JSPL), has entered into an agreement to acquire a 70% equity stake in Shanghai Jurong Marine Engineering & Technology Co. Ltd (JSMET). JSMET offers services for marine design work. Long-time business associate and Chinese partner, Zhao Weimin will own the remaining 30%.

JSMET is based in Shanghai and undertakes design and drafting work assigned by

JSPL. It will also recruit engineers in China to provide the design and drafting

back-up for the projects.