Odense Steel Shipyard Ltd. sells Balti ES Ltd. to Cargotec Corporation

Wednesday, May 30, 2007
Odense Steel Shipyard Ltd. (Odense Staalskibsværft A/S) announces the sale of Balti ES Ltd., a manufacturer of metal components based in Narva, Estonia, to Cargotec Corporation, Finland. The final company transfer is expected to take place within 1-2 months. Following the closure of Maersk Container Industri´s production facilities in Tinglev, Denmark the strategic importance of Balti ES for the Odense Steel Shipyard Group has been reduced. Balti ES functions as a separate unit and today sells most of its production capacity to companies outside the A.P. Moller - Maersk Group.

Balti ES was acquired by the Odense Steel Shipyard Group in 1997, and currently employs approximately 600 people. The two parties have agreed not to disclose the purchase price.

Maritime Today


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

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

People & Company News

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

American Waterways Operators Elects Chairman

The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders

Hanjin Shipping May Get OK for Restructuring

South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line,

Container Ships

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

Maersk Line Names Hahnemann Chief HR Officer

On August 1, 2016, Ulf Hahnemann, current Vice President for Strategic Programs at Mars Inc. will join Maersk Line as Chief Human Resources Officer (CHRO) and be

Allcargo Groups Subsidiaries as ECU Worldwide

ECU Line, Econocaribe and China Consolidators undergoes rebranding to build a Global Brand Connect   India’s integrated logistics solution provider Allcargo Logistics

 
 
Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0807 sec (12 req/sec)