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 Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Rotterdam to Build New Indonesian Port

The Port of Rotterdam Authority has signed a partnership agreement with the Indonesian Port Corporation Pelindo I for the development of a new deep sea port at Kuala Tanjung near to Medan in Sumatra,

Alaska Marine Lines Reduces Fuel Surcharge

Alaska Marine Lines, a marine transportation company providing barge service to and from Alaska and Hawaii, informs it has filed with the U.S. Surface Transportation

SSI to Showcase Marine Information Model

SSI's CAD/CAM ShipConstructor software utilizes a Marine Information Model (MIM) to store a wealth of data that can be leveraged for maintenance, repair and lifecycle support.

Legal

Greek Coastguard Rescues 2,500 over Three Days

Greece's coastguard has rescued about 2,500 migrants and refugees off the country's eastern islands over the past three days, authorities said on Monday, as the

CMA CGM-led Consortium Win Box Terminal Bid

The consortium formed by CMA CGM, Bolloré and CHEC won the bid process initiated by the Cameroonian government Following the bidding procedure initiated by the Cameroonian government,

BIMCO Outlines LIS Week Schedule

BIMCO’s breakfast brief, titled “The Future Of Maritime Security” is aimed at CEOs and Directors who will have an opportunity to hear more on the latest threats

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Simulators 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: 0.4359 sec (2 req/sec)