SKF Group to Acquire Blohm+Voss

Press Release
Wednesday, January 09, 2013
Sterntube Seal by B+V: Photo credit Blohm + Voss

SKF of Sweden is to acquire German ship components provider Blohm + Voss Industries (BVI) from Star Capital Partners.

Blohm + Voss Industries is a manufacturer of equipment for critical marine applications, including shaft components (seals and bearings), stabilizers, and oily water separators. The company has around 400 employees and originates from the Blohm + Voss shipyard, which was founded in 1877.

SKF will pay 80 MEUR for 100% of the equity of BVI and assumes net loans/cash of 18 MEUR. The transaction is subject to relevant regulatory approvals.

“We are excited to have Blohm + Voss Industries become part of the SKF Group. The synergies between the SKF and BVI marine portfolio will support SKF to be an even stronger partner for critical shaft components to the marine industry and marine specific applications for both OEM and end users,” says Tom Johnstone, SKF President and CEO.

The acquisition is intended by SKF to establish itself as a leading supplier of marine sealing arrangements, and hydrodynamic bearings, which is a significant bearing type in the marine industry.


 

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

Legal

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

Marine Propulsion

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

CNOOC Acquires Asia's 1st LNG Powered Tug

China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia’s first tugboat Hai Yang Shi You 525, designed to operate solely on liquefied natural gas as ship’s fuel.

Firefighting Vessel Delivered to the US Army

New Orleans based maritime solutions company Technology Associates, Inc. (TAI) informs it has completed its contract for the design and construction of a fast response

Mergers & Acquisitions

Ocean Safety, Richard Irvin Marine Safety Merger

Ocean Safety has today announced the merger with Richard Irvin Energy Solutions Marine Safety Division and their Aberdeen branch.   This merger follows the

Carlyle Group Acquires LMC

Global alternative asset manager The Carlyle Group today announced the acquisition of Lauderdale Marine Center (LMC), the nation's largest yacht repair facility

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion 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: 0.1408 sec (7 req/sec)