Wärtsilä Acquires Business of Singaporean Total Automation

Friday, February 10, 2006
Wärtsilä Corporation acquires the entire business of Total Automation Ltd, a Singapore-based public marine automation company, and all Total Automation's shares in its subsidiaries at a price of approximately EUR 61.6 million. Total Automation had sales of EUR 38.5 million in 2004 and has consistently generated EBIT margins in excess of 15%. The company employs over 400 people and has facilities in Singapore, Dubai, France, the UK and China

In addition to general marine automation, Total Automation has a strong foothold within the offshore and LNG sectors. The company focuses on refit projects and service work. The customers are multinational companies, shipyards and ship owners. The transaction complements Wärtsilä's earlier electrical and automation acquisitions in Europe and North America. It enables Wärtsilä to provide a comprehensive automation and electrical offering, strengthening Wärtsilä's position as a total service provider. The transaction is expected to close within the 1st half of 2006. The agreement is subject confirmatory due diligence and to the approval of the shareholders of Total Automation Ltd. The majority shareholder, Malaysia-based M3nergy Berhad controlling 53,3% of the share capital and votes, has agreed to vote in favour of the transaction.

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

ShipDC Launches with New Leader at the Helm

Ship Data Center Co., Ltd., a wholly owned subsidiary set up by ClassNK, has officially commenced operations of its big data center, ShipDC, from April 2016. Taking

New CMA CGM Agency in Puerto Rico

Shipping company CMA CGM announced the inauguration of its new agency in San Juan, Puerto Rico as from May 1, 2016.   The agency is opened in partnership with shipping agency Norton Lilly.

Harkand North America Salvaged by MBO

Ethos Offshore Completes Harkand North America Management Buy Out   A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management

Legal

Evergreen Holding Group May Miss Bond Payment

Evergreen Holding Group, an unlisted company that specialises in building boats, issued a warning on Friday that it may have trouble making coupon and interest payments on a bond maturing on May 15.

BSEE, USCG on Sharing Information, Jt Ops

Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno and U.S. Coast Guard Rear Admiral Paul Thomas participated in a luncheon panel discussion

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage 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: 0.0899 sec (11 req/sec)