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.
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
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&a
mp;M's capabilities as a core solutions provider in floating production systems including Floating Production Storage and Offloading vessels (FPSOs).
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.