Report: IHC Eyes Asia for Acquisitions

According to a Reuters report, IHC Merwede is hoping to announce the acquisition of several Asian shipyards next quarter as it sticks to an plan to expand internationally and grow by 50 percent in five years, citing a senior company executive. The shipbuilder currently generates more than $1.34b in revenue, expects huge demand for its oil drilling and deep-sea mining ships as China, India, and Southeast Asian nations compete to secure commodities to fuel their economies. (Source: Reuters)