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Hitachi Zosen to Abandon Shipbuilding

11, 13. 2006

Hitachi Zosen Corp. is planning to withdraw from shipbuilding business, newspaper reports said on Nov. 11. Universal Shipbuilding Corp., a fifty-fifty joint venture of Hitachi and JFE Holdings, Inc., will fully become JFE’s subsidiary. JFE will buy the Universal Shipbuilding’s shares currently owned by Hitachi. Hitachi is now conducting its business mainly in four fields such as environmental plant business and precision instrument business.

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