China Firm Buys Scana Machinery Co. Stake

MarineLink.com
Sunday, July 07, 2013

Norway Headquartered Scana Industrier ASA has entered into an "Equity Sale and Purchase Agreement" with Leshan Zhi Yuan Gao Di Mining Co. Ltd. regarding a sale of Scanas 80% equity share interest in Leshan Scana Machinery Co. Ltd.

The new owner will immediately take responsibility for daily operation of the company together with the existing organization, and will take responsibility for the companys obligations, say Scan Industrier.
 
Leshan Scana Machinery is located in Leshan City, Sichuan Province, China.

"The transaction will gradually strengthen Scanas capital base through cash inflow and reduced debt. The "Equity Sale and Purchase Agreement" is now to be approved by Chinese authorities. Also, the Company needs a new business license reflecting the change in the equity interest before the deal is finally closed," says Mr. Rolf Roverud, CEO of Scana Industrier.
 
"The sale is part of the activities undertaken by Scana to strengthen Scanas capital base and dispose assets that are considered to be non-core," adds Rolf Roverud.

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

People & Company News

ABB hands over Germany’s DolWin1

DolWin1 integrates 800 megawatts (MW) of clean energy into the German transmission grid ABB, the leading power and automation technology group, has successfully

CMMI’s Maritime Potpourri Focuses on Raising the Bar

The growing popularity of “Maritime Potpourri” Conference organized by the Company of Master Mariners of India (CMMI) was evident yet again on 25th July, 2015

Two Rescued Near Hug Point, ORE.

A Coast Guard Air Station Astoria aircrew assisted Clatsop County Sheriff Department personnel with the rescue of two hikers stranded by incoming tide near Hug Point, Monday.

Finance

NewLead Holdings Announces Commercial Competency of MT Sofia

NewLead Holdings Ltd.announced today a review of the commercial competency of one of its bitumen tanker vessels, the MT Sofia since the vessel was delivered to NewLead's fleet.

Statoil 2Q 2015 Earnings Slip

Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.

MOL's Barge Terminal in Bangkok

Mitsui O.S.K. Lines, Ltd. today announced the signing of a Joint Venture Agreement with SahaThai Terminal Co.,Ltd., a container terminal operation company in Thailand,

Mergers & Acquisitions

Scorpio Tankers to Acquire Product Tanker

Scorpio Tankers Inc. announced today that it has entered into an agreement to purchase an MR product tanker. The Company reached an agreement with an unrelated

Navig8 Amessi joins the Delta8 Pool

Navig8 Chemicals is pleased to announce the delivery of Navig8 Amessi, the eleventh of eighteen ECO 37,000dwt chemical tankers constructed at Korea's Hyundai Mipo Dockyard ("HMD").

Continental Delivered to Dorian LPG

Dorian LPG Ltd. an owner and operator of modern Very Large Gas Carriers (VLGC), reported today that it took delivery of the ECO VLGC Continental from Hyundai Samho Heavy Industries.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1226 sec (8 req/sec)