Asset Deal: Palfinger Dreggen and MCT Engineering

Marinelink.com
Monday, August 26, 2013

Palfinger Dreggen finalized the agreement for purchase of the assets in connection with the marine and offshore cranes product areas of the Korean crane manufacturer MCT Engineering Co., Ltd. The acquisition follows Palfinger Marine’s takeover of the Norwegian offshore crane manufacturer and is designed to help expand and intensify the partnership between both companies, which stretches back many years.

“With the acquisition of Dreggen in the fourth quarter of 2012, we took a significant growth step for our Business Area Marine. Together, we managed to obtain the largest order in the history of Palfinger in early 2013. It comprises, to be precise, two orders with a total value of approximately €90 million, which we are going to fill in the years to come. The agreed takeover of this part of MCT Eng’s business will provide a valuable foundation for the continued growth of our Marine business area,” explained Herbert Ortner, CEO of Palfinger AG.

MCT Eng is headquartered with its production plant in Sacheon, South Korea, and has been active as a partner and subcontractor for Palfinger Dreggen for over ten years. The company covers the complete range from purchasing, production and assembly right up to consignment and delivery for marine and offshore cranes, handling cranes and special custom cranes on the Asian market. MCT Eng’s marine and offshore assets will be fully integrated into the Business Unit Offshore Cranes by the name of Palfinger Dreggen Korea LTD.

Asia and Korea in particular are among the future markets for offshore cranes. Palfinger Marine is already well positioned on the Asian market with its own sales and service branch in Singapore. Expanding the value creation in the Business Unit Offshore Cranes constitutes a further strategic step in opening up one of the most important markets of Palfinger Marine, the company said.
 

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

People & Company News

That’s Not Coming on Board!

There’s hardly anything that can’t be shipped in a container. However, for ethical reasons, Hapag-Lloyd refuses to transport certain goods.   Anyone who regularly transports goods for third parties,

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Contracts

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

Offshore

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

Marine Equipment

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

New Cutter Suction Dredge: Modern and Efficient

Ellicott Dredges, LLC has debuted a new design 20” (500 mm) cutter suction dredge, the Series 2070 Dragon dredge.    Aiming to take advantage of modern, up-to-date

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

Mergers & Acquisitions

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators 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: 1.0027 sec (1 req/sec)