Gaussin shareholders give green light to ZPMC buying shares

Chinese state-owned manufacturer Shanghai Zhenhua Heavy Industries Co (ZPMC) is among the companies that can benefit from Gaussin’s shareholders’ decision to allow the board to sell shares in order to receive capital to finance its current order book.

At the company’s annual general meeting, the shareholders of the French engineering group Gaussin voted to allow the sale of shares to ZPMC and its affiliates as well as two French financial groups.

The French company said in a statement that these potential capital increases are intended to finance its order book, which amounted to €120m (US$129m) as of September 30, 2015, as well as to finalise the current technologies development and to jointly address major international tenders in progress and those to come.