Rolls-Royce to Acquire Electric Holding

Thursday, July 10, 2008

Rolls-Royce has announced its intention to acquire Scandinavian Electric Holding (SEH), a supplier of system packages for diesel-electric marine propulsion systems, continuing its growth strategy in the marine market. The acquisition, from Borea Opportunity II AS, requires approval from the Norwegian competition authorities, which is expected to be completed within a few weeks.
Rolls-Royce will purchase 100 per cent of the equity of SEH for cash consideration of $84m. The company will form part of the Rolls-Royce marine business.

The acquisition is consistent with the company's strategy of adding new capabilities and expanding into integrated power systems. SEH currently employs 150 people, in , , and , and recorded sales of £40 million in 2007 and has a current order book of £100 million. SEH has a strong track record in offshore supply and service vessels, and will extend system design capability for Rolls-Royce UT Design offshore support and service vessels.

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

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

S&P Raises Steamship Mutual outlook to Positive

Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard

SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Ship Electronics Ship Repair Ship Simulators 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: 0.0709 sec (14 req/sec)