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 Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Finance

Ensco plc Reports 3Q, 2014 Results

Ensco plc  today reported earnings per share from continuing operations of $1.93 in third quarter 2014, up 16% from $1.66 in third quarter 2013. Adjusted for a $0.

Chevron Announces Quarterly Dividend

The Board of Directors of Chevron Corporation today declared a quarterly dividend of one dollar and seven cents ($1.07) per share, payable December 10, 2014,

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Marine Science

Study Shows Oceans Arrived Early to Earth

Earth is known as the Blue Planet because of its oceans, which cover more than 70 percent of the planet's surface and are home to the world's greatest diversity of life.

Chevron - First Gas from Bangladesh Bibiyana Project

Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country.

Chevron Sanctions Stampede Project

Chevron Corporation announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the

Consulting

SMC to Provide Marine Coordination for Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project.

Good Performance by Dun & Bradstreet in 3Q 2014

Dun & Bradstreet, the world's leading source of commercial information and insight on businesses, today reported results for the third quarter ended September 30, 2014.

Schlumberger Introduces New Well Integrity Service

Schlumberger announced today the release of Invizion Evaluation* well integrity service, which helps operators evaluate zonal isolation by using integrated drilling, cementing and well logging data.

Mergers & Acquisitions

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Ocean Observation

Marine Renewable Energy Testing Facility in Singapore Mooted

ClassNK has launched of a feasibility study for a new marine renewable energy testing facility to be built in Singapore. The announcement was made at the 2014

Study Shows Oceans Arrived Early to Earth

Earth is known as the Blue Planet because of its oceans, which cover more than 70 percent of the planet's surface and are home to the world's greatest diversity of life.

Transneft Cites Weather, Suspends Some Liftings

Russian pipeline monopoly Transneft has suspended oil loadings through all Russian ports except for Makhachkala due to bad weather conditions, RIA news agency said on Monday.

 
 
Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1497 sec (7 req/sec)