Posted on: Sun, 07 Mar 2010 21:20:17 EST
SEOUL, Mar 08, 2010 (AsiaPulse via COMTEX) --
Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), a South Korean shipyard, said Monday that it plans to establish a joint venture with the Canadian province of Nova Scotia to build a wind farm.
Daewoo Shipbuilding will hold a 51 per cent stake in the joint venture with the remaining to be owned by Nova Scotia.
The joint venture will be able to produce 600 wind turbine blades and 250 windmill towers annually.
In August last year, the shipyard took over DeWind Inc., a U.S. wind power company, as part of efforts to diversify its revenue source amid falling new orders.
Daewoo Shipbuilding's latest foray into the wind power business underscores local shipbuilders' advances into new business areas to compensate for falling orders.
(Yonhap) bl
For full details on (DWOSF) DWOSF. (DWOSF) has Short Term PowerRatings at TradingMarkets. Details on (DWOSF) Short Term PowerRatings is available at This Link.
Source: http://www.tradingmarkets.com/news/stock-alert/dwosf_s-korea-s-daewoo-shipbuilding-to-set-up-jv-for-wind-farm-in-canada-828776.html
SEOUL, Mar 08, 2010 (AsiaPulse via COMTEX) --
Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), a South Korean shipyard, said Monday that it plans to establish a joint venture with the Canadian province of Nova Scotia to build a wind farm.
Daewoo Shipbuilding will hold a 51 per cent stake in the joint venture with the remaining to be owned by Nova Scotia.
The joint venture will be able to produce 600 wind turbine blades and 250 windmill towers annually.
In August last year, the shipyard took over DeWind Inc., a U.S. wind power company, as part of efforts to diversify its revenue source amid falling new orders.
Daewoo Shipbuilding's latest foray into the wind power business underscores local shipbuilders' advances into new business areas to compensate for falling orders.
(Yonhap) bl
For full details on (DWOSF) DWOSF. (DWOSF) has Short Term PowerRatings at TradingMarkets. Details on (DWOSF) Short Term PowerRatings is available at This Link.
Source: http://www.tradingmarkets.com/news/stock-alert/dwosf_s-korea-s-daewoo-shipbuilding-to-set-up-jv-for-wind-farm-in-canada-828776.html
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