Vinashin and MacGREGOR strengthen co-operation

Vietnam Shipbuilding Industry Corporation (Vinashin) and MacGREGOR are further strengthening their co-operation by signing a memorandum of agreement to establish a joint venture in Vietnam to produce ships? cranes and hatch covers. The parties had already previously co-operated closely in the manufacture of hatch covers at Vinashin?s Ben Kien shipyard.

According to Markku Mattila, president of MacGregor?s Asian operations: “Vinashin will spearhead Vietnam?s entry into shipbuilding and is expected to become a major exporter within the next 10 years.”

In the five years up to 2005, Vinashin is reported to have invested D4.21 trillion ($280 million) in strengthening technology and increasing the volume of local content which is currently around 40% of ship content.