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

People & Company News

Costa Concordia: Operations to Tow the Wreck Begin

Maneouvres began early on Wednesday to remove the rusty hulk of the Costa Concordia cruise liner from the Italian island where it struck rocks and capsized two years ago, killing 32 people.

Thai Resort Owners Sue State Owned Company for Oil Spill

Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1610 sec (6 req/sec)