IHI Leaves EAS Shipyard

Japan EAS Investimento, controlled by the Japanese IHI and JGC of Japan, has sold its stake in the Estaleiro Atlântico Sul shipyard, in the state of Pernambuco. The company owned one-third of the shipyard’s shares, with Queiroz Galvão and Camargo Corrêa as partners. After the change, the shares of the shipyard will be divided equally between the other two companies.

The transaction was approved by the antitrust agency, Cade, and published in the Official Gazette today (March 14). According to the Cade document, the operation is part of a strategic decision of Japan EAS Investimentos to close down its activities in Brazil.

In February 2015, Estaleiro Atlântico Sul canceled the contract with Sete Brasil for the construction of seven drill rigs to be chartered to Petrobras.