A group of 5 Japanese companies will join forces to acquire a stake in a major Brazilian shipbuilder.

A group of 5 Japanese companies will join forces to acquire a stake in a major Brazilian shipbuilder.

Mitsubishi Heavy Industries, Imabari Shipbuilding and 3 other Japanese companies will acquire a 30-percent stake in Ecovix for around 300 million dollars.The move is an attempt by the firms to gain a foothold in the development of offshore oil fields in the South American country.

Source:NewsOnJapan