HDW Stake to go to MAN unit

Monday, April 08, 2002
A unit of Germany's MAN AG reportedly confirmed to a major news agency that it would buy a 15 percent stake in Howaldtswerke- Deutsche Werft (HDW) by October 1. The move follows a surprise takeover of the shipyard by U.S.-based One Equity Partners last month who freed the yard from the control of ailing engineering firm Babcock Borsig. The head of MAN unit Ferrostaal AG, reportedly told a news conference that the firm agreed to buy a 15 percent stake offered by One Equity soon after it gained control of 75 percent of HDW's shares. HDW is the world's leading producer of non-nuclear submarines. One Equity said it bought the controlling stake as a financial investment. The MAN official reportedly said the stake in HDW was an attractive way for Ferrostaal, MAN's industrial services unit, to secure its continuing business with HDW.

Maritime Today


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

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Port of Caen Orders Damen ASD Tug 2810

The Port of Caen/Chamber of Commerce & Industry Caen Normandy (Chambre de Commerce et d’industrie de Caen Normandie) has placed an order for a Damen ASD Tug 2810.

Fos Tanker Queue Grows as Strike Impacts Refinery Ops

Nearly two dozen vessels were queued outside the French oil import terminal in Fos, southern France on Thursday, held up by a strike organised by the hardline CGT

Aquino: China Breaks South China Sea Deal

Philippine President Benigno Aquino on Thursday accused China of breaking a U.S.-brokered deal between the two nations on the Scarborough Shoal, an uninhabited rocky outcrop in the South China Sea.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0510 sec (20 req/sec)