AWT Shares Acquired by StormGeo

marinelink.com
Tuesday, January 28, 2014

Applied Weather Technology, Inc. (AWT) announced the conclusion of an agreement with weather specialist company StormGeo under which the full shareholders stock in the company has been acquired by Norwegian based StormGeo A/S .

Following the acquisition, AWT will continue to deliver its range of ship route advisory services and maritime weather and decision support software products under the AWT brand name to ship owners and operators worldwide.

AWT Chairman and founding owner Jung Soo Kang describes the deal as a "friendly acquisition that is in the interests of both companies, their employees and customers." According to AWT CEO Haydn Jones, "The two companies have complementary strengths: StormGeo is very strong in the offshore oil and gas sector, AWT is a brand leader in routing and weather based decision support services for commercial shipping." The combined group expects to gain technical and data synergy advantages from the merger that will benefit the full range of maritime customer market sectors.

"We believe that our ability to combine global real-time weather data with continuous harvesting of transport and movement data from thousands of ships across the globe will enable the company to give ship and all fleet operators a unique understanding of how they can efficiently navigate the globe, whilst at the same time securing maximum safety and sound operational economics," said Erik Langaker, Chairman of StormGeo.

"We are delighted to have found a new partner with the same focus on quality and product development as ourselves. Outstanding performance within key areas like ship routing and marine forecasting will strengthen our product offering around the globe. Our main goal is to combine the knowledge base and expertise from both companies to develop new cutting edge products that will continue to be highly appreciated by our customers. Haydn Jones, CEO at AWT, will continue at AWT headquarters and will take the role of global head of shipping. His experienced management team and employees will ensure continuity with their existing customers," said Kent Zehetner, the CEO of StormGeo.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Marine Science

OSD Designs Research Vessel for TORI

Offshore Ship Designers (OSD-IMT) has signed a new contract to design an IMT2001 Scientific Research Vessel for the Taiwanese Ocean Research Institute (TORI).    The

Update on Seagull Mobile apps for Crew

The Seagull mobile app for crew training status is set to revolutionise the way seafarers track their training records and receive critical safety alerts, by making

Royal Caribbean Ship Thrashed by Storm Returns on Wednesday

A Royal Caribbean cruise ship forced to turn back early after being battered by an Atlantic storm was expected to return to its New Jersey port at 9 p.m. on Wednesday (0200 GMT Thursday),

Mergers & Acquisitions

UPS Oposes CP-NS Merger

UPS, one of North America’s largest intermodal shippers, has told federal regulators that it is against Canadian Pacific Railway's (CP's) proposed acquisition of Norfolk Southern Corp.

Nautilus, Metro Move to New HQ in Long Beach

After more than 92 years of operating from various locations in Wilmington, Calif., Nautilus International Holding Corp., along with its subsidiaries Metro Ports,

Rosneft, Pietro Barbaro Form JV for Shipping

Rosneft and Pietro Barbaro S.p.A. signed a Memorandum of Understanding with the scope of creating a Joint Venture (JV) in the area of international shipping. The

Ocean Observation

UK to Double NATO Naval Deployments in 2016

Britain is doubling its naval deployments to North Atlantic Treaty Organization (NATO) in a move aimed a showing enemies that "we are ready to respond to any threat",

CMA-CGM and Cosco Alliance in the Offing?

The newly-formed shipping giant China Cosco Shipping Corporation and CMA CGM met recently in Shanghai to discuss the possibility of a new French-Asian alliance, say local Chinese media.

Bangladesh, Thailand Plans Direct Coastal Shipping

Bangladesh and Thailand are planning to launch direct coastal shipping, connecting the Chittagong Port in the Bay of Bengal with the Ranong Port in the East of

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1087 sec (9 req/sec)