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Keppel Hitatchi Buys Keppel Marine Shiprepair, Shipbuilding Business

Maritime Activity Reports, Inc.

September 7, 1999

Keppel Hitachi Zosen Ltd. has reportedly agreed to buy Keppel Marine Industries Ltd.'s shiprepair and building business for $98.9 million in cash. Keppel Hitachi said it would acquire all of Keppel Marine's investments in Keppel Singmarine Dockyard Pte Ltd., Eagle Engineering Pte Ltd., Keppel UAE-Investment Pte Ltd., Keppel Philippines Marine Inc., and Penguin Boat International Ltd.

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