Keppel Acquires Stake in Dyna-Mac, Topside Module Fabricator

Wednesday, March 02, 2011
Keppel Offshore & Marine Limited (Keppel O&M), through its wholly-owned subsidiary KS Investments Pte Ltd (KSI), has acquired a 27.77% stake (250,000,000 shares) in topside module fabricator Dyna-Mac Holdings Ltd (Dyna-Mac) via an equity placement.
 
This follows Dyna-Mac's successful listing on the main board of Singapore Exchange Securities Trading Limited (SGX) today. KSI's total investment is S$87.5 million based on the invitation price of 35 cents per share.
 
The equity placement, through its investment vehicle KSI, is part of a collaboration between Keppel Shipyard (a wholly-owned subsidiary of Keppel O&M) and Dyna-Mac to jointly pursue the topside module business beyond Singapore's shores.
 
Mr Nelson Yeo, Managing Director (Marine) of Keppel O&M, was appointed to the Board of Dyna-Mac as a Non-Executive Director.
 
Mr Yeo said, "This strategic investment strengthens Keppel O&M's capabilities as a core solutions provider in floating production systems including Floating Production Storage and Offloading vessels (FPSOs).
 
"Dyna-Mac's expertise and operations will complement Keppel's competencies and allow us to exert better control over the process of designing and fabricating oil and gas production modules."
 
Having converted and built more than 100 FPSOs, Floating Storage and Offloading vessels (FSOs) and other production units, the Keppel O&M Group has established a solid track record in the engineering, fabrication and integration of topsides for customers worldwide.
 
"Keppel's global network, which covers many important markets, presents opportunities for both our companies to collaborate in the oil and gas production facilities business and create value for our customers," Mr Yeo added.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

2 Americans Rescued North of Cuba

A Coast Guard MH-60 helicopter crew rescued two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, Friday. Watchstanders

Shell CEO Backs Fossil Fuels, Climate Change Warnings

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

Severe Flooding Cuts Off Lone Road to Alaska's Oilfield

Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river,

Shipbuilding

Fincantieri Invests In Camper & Nicholsons

Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.1510 sec (7 req/sec)