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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

CMA CGM Seeking Funds for NOL Takeover

France’s CMA CGM has approached banks to finance its potential takeover bid for Singapore’s Neptune Orient Lines Ltd (NOL), reports Bloomberg.   The world’s No.

Wärtsilä Strengthens Its Position in China with New Propulsion Orders

Two new marine geological research vessels under construction in China will feature a broad scope of Wärtsilä engines and propulsion equipment. Wärtsilä has maintained

Gulf and Hendry Marine Consolidate Operations

Gulf Marine Repair Corporation, a southeastern tug-barge shipyard, announced it is consolidating operations with Hendry Corporation, its affiliated company and fellow shipyard,

Coatings & Corrosion

Lighter, Longer-lasting Laminate from Dimension-Polyant

Dimension-Polyant, part of the DEUTSCHE YACHTEN working group, has developed a longer-lasting but lighter surface laminate for the discerning owner and skipper,

Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1211 sec (8 req/sec)