Keppel Hitachi Zosen makes 132 redundant

Following the S$167 million ($99 million) cash purchase of Keppel Marine Industries? marine-related businesses by Keppel Hitachi Zosen, the group has made 132 if its 3,314 workers redundant. The redundancies are spread across three yards: Keppel Shipyard (Pte); Hitachi Zosen Singapore; and Keppel Singmarine Dockyard and will reduce costs by S$5 million ($3 million) a year.

Managing director Charles Foo, says the aim is to be the regional leader in shiprepair and conversion and builder of specialised and medium-sized vessels. Further restructuring will bring all overseas shipyards in the Philippines under Keppel Hitachi Zosen.