Keppel Sells Cathodic Protection Technology

Monday, December 30, 2002
The Directors of Keppel Corporation Limited (Keppel) announced the sale of 100 percent stake in Cathodic Protection Technology Pte Ltd (CP Tech) by Keppel Integrated Engineering to the management team at CP Tech for a total cash consideration of S$3.9 million. CP Tech is one of the largest providers of cathodic protection systems in the Asia-Pacific region. The divestment is in line with Keppel’s strategy of disposing its non-core assets. Describing the deal, Yick Ping Wong, Managing Director of Keppel Engineering explained, “We encourage entrepreneurship and support the management’s initiatives to further the growth of CP Tech independently.” Tan Cheong Pin, the General Manager of CP Tech said, “I am grateful for Keppel’s support of the management buyout and our plans to grow CP Tech.” The divestment is not expected to have any significant impact on the net tangible assets and earnings per share of Keppel for the financial year ending December 31.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1727 sec (6 req/sec)