Vickers Plc News

BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015. Ms Frew has over 18 years’ experience as a director and chairman on public company boards across a range of global sectors, including chemicals, engineering and finance. She is currently Chairman Designate of Croda International Plc, the speciality chemicals group and Deputy Chairman of Lloyds Banking Group Plc. Mr Nasser said Ms Frew’s appointment reflected the structured and rigorous approach taken by BHP Billiton to Board succession planning…

Consolidation in the maritime industry is not something new. In the past five years, oil majors such as Exxon and Mobil, and BP, Amoco and Arco have all consolidated. Shipyards haven't been immune to mergers, either; as Halter was purchased by Friede Goldman; and Litton Ingalls consolidated with Avondale. But, when equipment manufacturers begin to consolidate, the effects aren't quite as obvious. In the past five years, Caterpillar acquired MaK and, more recently, Sabre. And Rolls-Royce has joined the buying frenzy with such zeal and aggression, it's almost easier to list companies not owned by the propulsion giant. Part of the ambiguity of the merger between equipment manufacturers is, typically, the existing product line is still maintained; just owned and distributed by the new company.

Jan Paulsen has been a busy guy. Paulsen was the project manager, which saw through the construction of four massive 23,500-hp anchor handling tug supply vessels (AHTS) — two for Solstad and two for Olympic Shipping — starting with the delivery of the first ship in January 2002, and culminating with the delivery of Normand Master on March 28, 2003. Normand Master, hull no. Verft AS for Solstad Shipping ASA. While the vessel is nearly identical to the trio of ships that preceded it, it does boast one major design modification: a massive A-frame, 250-ton deck crane bolted on the aft deck. Arguably, the heart and soul of vessels of this genre are in the amazing packages of deck machinery, and here again Normand Master stands tall.

In yet another case of giant-eating-giant consolidation, Rolls-Royce Plc has made a surprise $933 million agreed cash offer for Vickers Plc, in a move aimed at making Rolls-Royce the global leader in marine power systems. The acquisition would place a significant portion of marine propulsion products - including the Ulstein, Aquamaster, Kamewa, Rauma, Brown Brothers and Mitchell Bearings brands - in one company's control, affecting operators of all vessel types, from VLCCs to tugboats. Ironically, the move comes just as Vickers put the finishing touches on its own revived industrial empire, by acquiring several marine propulsion equipment suppliers in order to dominate a once fragmented piece of the international maritime market.

Vickers PLC has recently made a major commitment to the marine market, most recently with its acquisition of Norwegian propulsion company Ulstein Holding for $476.8 million. Maritime Week contacted Vickers PLC CEO, Baron Paul Buysse for his take on this venture, as well as his inside strategies and goals for the future of the new company. MW: Why the heavy investment in marine at this point in time? Where do you see growth opportunities in short-term? Long-term? PB: After the divestment of Rolls Royce and Cosworth, Vickers plc was left with three strong engineering divisions: Defense, Turbine Components and Marine. In the Marine division we have very strong brand names such as Kamewa, Rauma, Aquamaster, Brown Brothers and Michell Bearings.

British engineer Rolls-Royce Plc launched a surprise $933 million agreed cash offer for Vickers Plc, in a move aimed at making it the global leader in marine power systems. However, the deal prompted concern from some analysts who felt Rolls-Royce may be paying too much merely to bolster its marine propulsion business. Given this focus on marine, Vickers' land-based defense business, which includes battle tanks and armored vehicles, is seen as surplus to requirements and Rolls-Royce Chairman Ralph Robins said that the sale of this division was inevitable.

Just as soon as Vickers Plc put the finishing touches on its revived industrial empire - acquiring a myriad of marine propulsion equipment suppliers in order to dominate a once fragmented piece of the international maritime market - wheels have been set in motion to acquire the goliath itself. Last week Rolls-Royce Plc launched a surprise $933 million (576 million pound) agreed cash offer for Vickers Plc in a move aimed at making it the global leader in marine power systems. But the deal, pitched at a 53 percent premium over Vickers share price last Friday, prompted concern from some analysts who felt Rolls-Royce may be paying too much merely to bolster its marine propulsion business. "This was a big surprise.