WTS Acquires Tankship & Rig Inert Gas Provider

Press Release
Thursday, April 11, 2013
Petter Traaholt, President WTS: Photo credit WTS

Wilhelmsen Technical Solutions AS (WTS) acquires Maritime Protection AS,  strengthening its safety portfolio for the marine & offshore segments.

WTS has signed an agreement to acquire 100% of the shares in Maritime Protection AS (MP). Subject to certain conditions, the transaction will be closed 25 April 2013.

"I am very excited that we show our commitment to the maritime industry and its customers, with our second acquisition in six months,” says Petter Traaholt, President Wilhelmsen Technical Solutions (WTS). “Maritime Protection has the hallmarks of a world class asset within its genre with a strong reputation and solid foundation. By investing and expanding our offer we not only strengthen our safety portfolio, but we can now deliver a complete range of inert gas solutions for offshore and marine applications."

Purchased from Boss Montasje AS and a group of local investors, the company is DNV and Achilles certified and has over 40 years’ experience in supplying inert gas systems to the maritime industry, including application in oil tankers, LNG/LPG carriers, product tankers and rigs.

 “Maritime Protection’s strong engineering capabilities and development knowledge, teamed up with our expertise and global network will give a valuable lift to our marine and offshore capabilities. This in turn secures regulatory compliance for our customers” says Traaholt.

“We welcome WTS as our new owners,” says Steinar Andersen, Managing director of Maritime Protection. “With this move, we will expand our footprint in the marine and offshore segments significantly. WTS’ financial platform enables us to reach higher and wider, to target the larger owners in the market. Teaming up further strengthens our high quality brand and I am eager to see how far we can go together.”
 

 




Contracts

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Maritime Safety

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

Restricted Area around Submarine Wreck in North Sea Reduced

The Danish Maritime Authority has changed the size of the area of prohibition that was established on 17 August in the North Sea off the coast at Esbjerg in connection

Mergers & Acquisitions

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

UASC's Dismal Performance

United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its key financial figures, says Alphaliner.

Baltic Exchange Board Backs SGX Bid

The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi-billion

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
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: 0.1291 sec (8 req/sec)