Samsung Heavy Industries Co Ltd , the world's No.2 shipbuilder, said on Tuesday it had agreed to buy a 10 percent stake in Brazil's Atlantico Sul Shipyard for some $22 million.
A Samsung official said the agreement was expected to help win major orders such as ones for drillships from Brazil's state-run oil company Petrobras .
"A shipbuilder needs a local company to win ship orders from Brazil and the purchase would help us secure better positions for more orders," the official told Reuters by telephone, asking not to be identified.
In 2006, Samsung said it had signed a deal to provide technical support to Atlantico, a consortium of four companies, for Atlantico Sul Shipyard.
Shares in Samsung ended up 0.77 percent to 39,400 won, outperforming a 0.57 percent fall in the broader market .
A Samsung official said the agreement was expected to help win major orders such as ones for drillships from Brazil's state-run oil company Petrobras .
"A shipbuilder needs a local company to win ship orders from Brazil and the purchase would help us secure better positions for more orders," the official told Reuters by telephone, asking not to be identified.
In 2006, Samsung said it had signed a deal to provide technical support to Atlantico, a consortium of four companies, for Atlantico Sul Shipyard.
Shares in Samsung ended up 0.77 percent to 39,400 won, outperforming a 0.57 percent fall in the broader market .