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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SCI Publishes Shore Leave Survey

With Maritime Labor Convention (MLC), 2006 in force, one might expect to see a reduction in the number of seafarers without visas; yet, recent data collected by

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

Diana Shipping Invests in Diana Containerships

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase

Contracts

New Australian Navy Submarines to be Japan Built?

Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to

Russian Navy Expansion Gathers Momentum

The Russian Navy celebrates its professional holiday by putting two new submarines into service and expects a new warship in the fall and several additional ships

Three Share in Navy US$96.8-M Twin-Ship Modernization Contract

The U.S. Department of Defense informs that AMSEC LLC; CDI Marine Co. LLC; and Q.E.D. Systems Inc., (all located in Virginia Beach, Virginia) are each being awarded a cost-plus-fixed-fee/cost-only,

Offshore

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

Offshore Installation at Lerwick

A large steel oil storage tank to be installed west of Shetland as part of Premier’s development of the Solan field has arrived in Lerwick onboard a heavy-transport vessel Xiang Yun Kou,

Wagenbourg New Crane for Oil, Gas, Energy Sector

Wagenborg Nedlift has expanded her crane fleet with a brand new 700 tonnes mobile crane. With this crane the fleet is significantly strengthened. Equipped with

Marine Equipment

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

Master Marine Delivers Z Drive Towboat

Master Marine, Inc. delivered its first 2,000 hp Z Drive inland river towboat last month. The towboat represents the first vessel (Entech Design) of this series by the yard.

Wagenbourg New Crane for Oil, Gas, Energy Sector

Wagenborg Nedlift has expanded her crane fleet with a brand new 700 tonnes mobile crane. With this crane the fleet is significantly strengthened. Equipped with

Mergers & Acquisitions

LNG to Acquire Bear Head LNG Project in Canada for US$11 mi

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing

Exxon eyes expanding Texas refinery

Exxon Mobil Corp is considering a multi-billion-dollar plan to expand its Beaumont, Texas, refinery into the country's largest, the first major refining investment of the U.

Hamburg Süd to Acquire CCNI Liner Service

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile, and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1496 sec (7 req/sec)