STX Dalian suppliers team up to demand payment

Korea’s STX Offshore & Shipbuilding is on the verge of selling shares in its Dalian shipyard, as it tries to solve its debt crisis which has some of its suppliers in China worried.
Recently 31 of STX Dalian’s Korean suppliers in China have held an emergency meeting and established a collaboration group to demand a total repayment of RMB580m from the yard.
As STX delays payments to suppliers, some of them are now facing bankruptcy.
Source: Sino Ship News