Cathodic Protection Technology Pte Ltd News

The Directors of Keppel Corporation Limited (Keppel) announced the sale of 100 percent stake in Cathodic Protection Technology Pte Ltd (CP Tech) by Keppel Integrated Engineering to the management team at CP Tech for a total cash consideration of S$3.9 million. CP Tech is one of the largest providers of cathodic protection systems in the Asia-Pacific region. The divestment is in line with Keppel’s strategy of disposing its non-core assets. The divestment is not expected to have any significant impact on the net tangible assets and earnings per share of Keppel for the financial year ending December 31.