FOSEN YARD SIGNS LETTER OF INTENT WITH GLOBAL INDUSTRIAL PARTNER.
Fosen Yard, Rissa, Norway and Hantong Shipbuilding, China have on 7th July 2017 agreed to form a Joint Venture for building RoPax, RoRo and Cruise vessels.
The new Joint Venture will be marketed as Fosen Hantong with immediate effect.
The Joint Venture will utilize the technical, financial and market benefits of each party.
Hantong will secure high production capacity, high quality production and also add financial strength and accommodate for financing arrangements when required.
FosenYard possess market leading resources, knowhow and technical and operational solutions to enable Fosen Hantong to offer the complete full scope, advanced projects within the RoRo, RoPax and Cruise segments.
Fosen Hantong will form a highly competitive and powerful shipbuilding solution for these sectors, offering the joint complete value-chain for clients.
Hantong will dedicate a modern shipyard facility to the joint venture. The shipyard will be marketed as Fosen Hantong and specific projects shall as per the agreement between the parties be managed by Fosen.
Hantong will cooperate exclusively with Fosen Yard for all business within the above described segment initially for a period of 8 years.
The Parties will establish a design and development company in Trondheim, Norway with the intention to become a leading developer and provider of marine design and technology.
Jiangsu Hantong Ship Heavy Industry Co., Ltd is a shipyard based in China who focuses on building various types of vessels to the worldwide market and has delivered about 200 high quality ships primarily to European customers and established long term cooperation with these owners. Fosen Yard is a Norwegian shipyard specialized in the design and construction of RoRo, RoPax and cruise vessels with a long history of delivering successful and sophisticated vessels to owners worldwide.
Anders Straumsheim CEO
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