2 Chinese firms eye Hanjin Subic takeover

Security & Defense

Two Chinese shipbuilding companies are interested in taking over operations of Hanjin Heavy Industries and Construction Philippines (HHIC Philippines)’s shipyard in Subic, National Defense Secretary Delfin Lorenzana told Pentagon reporters on April 1.

“They are interested in the Subic.  There are two shipbuilding – Chinese shipbuilding companies who are interested from the get go when they learn about the financial trouble of Hanjin, and they’re waiting in the wings,” the defense chief said.

However, Lorenzana noted that “we are also talking to a lot of interested parties on the US, on Japan, Korea, from European countries, and from Singapore and Indonesia.”

He also said that the Philippine government is ready to takeover.

“But if no one will be interested, then we do not want others to come in and… of the country, the government of the Philippines is ready to get in and run this,” he said.