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.

People & Company News

MN100: R.W. Fernstrum & Company

The Company: R.W. Fernstrum & Company set the standard in marine heat exchangers over 65 years ago, building a reputation focused on innovation. Today, its commitment is to continual improvement,

MN100: McDonough Marine Service

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions,

MN100: MarineCFO

The Company: Founded in 1992, UA Business Solutions was a pioneer in the field of Enterprise Resource Planning (ERP) and an early Microsoft Partner. The ERP evolution

Coatings & Corrosion

Cathelco MGPS for Latest Lamprell-built Jack-up

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication,

Fighting Barnacle Buildup with Biology

New research solves a mystery behind the gunk that sticks to the bottoms of ships.   The coating of barnacles and other growth along the bottoms of vessels is more than just an eyesore.

MN100: International Paint

The Company: For over 130 years, AkzoNobel’s Marine Coatings business, International, has pioneered the development of market-leading coatings for the shipping industry.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0903 sec (11 req/sec)