Wärtsilä Acquires Total Automation Ltd.

Friday, February 10, 2006
Wärtsilä Corporation acquired 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 $72.6 million. Total Automation had sales of $45.8 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 U.K. 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 is expected to close within the 1st half of 2006.

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

BWM Convention Will Not Resolve Difficulties In U.S. - ICS

ICS notes that the IMO Secretary General has announced that the Ballast Water Management Convention will enter into force worldwide from 24 November 2016, following

Wärtsilä Design for Offshore Vessel Conversion

Dutch ship owner C-Bed has contracted Wärtsilä Ship Design to supply the design for rebuilding its Seismic Survey Vessel, the 'Viking II', for use as a hotel vessel.

Terex Cranes for ICTSI

Terex Port Solutions (TPS) has received an order from a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Iraq for two Terex shiptoshore

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics 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: 0.0779 sec (13 req/sec)