Tsuji transfers marine equipment business

Tsuji Heavy Industries, now under corporate rehabilitation procedures, will transfer its marine equipment business to a company newly established by Oshima Shipbuilding, effective on 1 July.

Oshima has set up a 100%-invested subsidiary Ainoura Machinery, based in Sasebo city and capitalized at Y300 million ($3m). Upon receiving permission from the Tokyo District Court, Oshima will take over marine equipment and after-sales service businesses from Tsuji and its four subsidiaries and it is expected that Oshima’s vice chairman will assume the presidency at Ainoura.

The operations to be transferred to the new company are the production of hatch covers, deck cranes, self-unloaders for chip carriers and other on-deck machines, and their after-sales services. As Ainoura will become a specialized company for marine equipment, it will not accept Tsuji’s bridge and other businesses, and will also separate operations other than marine equipment undertaken by the subsidiaries. It will take over workers centering on those engaged in marine equipment-related fields, and start operations with 280 employees for the time being.