Marine Propulsion Products News

Twin Disc, Inc. a provider of power transmission technology and equipment for marine- and land-based applications, announced today that it has completed the €52.1 million (approximately $60.8 million), acquisition of Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries (“Veth Propulsion”), a global supplier of main and auxiliary marine propulsion products. The closing price included net cash and working capital adjustments. The acquisition of Veth Propulsion establishes Twin Disc as a leading power control business for the global marine industry and expands Twin Disc’s presence in the market by adding complementary products and powerful new technologies. In addition, Veth Propulsion enhances Twin Disc’s engineering talent and product development capabilities.

U.S. based power transmission technology and equipment manufacturer Twin Disc, Inc. announced it has entered into a definitive agreement to acquire the Netherlands based marine propulsion products supplier Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries.Twin Disc said the purchase price is approximately $58.6 million plus net cash, with potential adjustments based on Veth Propulsion’s working capital as of the closing date, and will be financed through a combination of cash and new debt facilities.

The new Nautican Research and Development manufacturing and integration facility in Summerside, Prince Edward Island, opened in December 2016 with the support of Babcock Canada and the provincial government. The first shipment, a set of rudders, is nearing completion and will soon be delivered to Pacific Fisherman in Seattle. The new facility produces Nautican’s High-Efficiency marine propulsion products. Over the coming years Nautican will progressively transition the manufacturing of its Integrated Propulsion Units (IPUs) to the new facility as well.

A former Montague resident, Elizabeth Reynolds Boyd has always been looking for a way to give back to her home province. The respected naval architect and owner of Nautican Research and Development joined Premier Wade MacLauchlan and Babcock Canada Vice President Jake Jacobson to announce a new advanced marine technology presence in Summerside. The Nautican, Babcock, and provincial partnership province will bring a manufacturing facility and 21 new full-time jobs over the next three years – joining the six employees already on staff – to Slemon Park. “I see Prince Edward Island as the best place for this new manufacturing facility given its location, skilled work force and the efforts of the government to establish the province as a hub for marine business,” Elizabeth Reynolds Boyd said.

A former Montague resident, Elizabeth Reynolds Boyd has always been looking for a way to give back to her home province. The respected naval architect and owner of Nautican Research and Development joined Premier Wade MacLauchlan and Babcock Canada Vice President Jake Jacobson to announce a new advanced marine technology presence in Summerside. The Nautican, Babcock, and provincial partnership province will bring a manufacturing facility and 21 new full-time jobs over the next three years – joining the six employees already on staff – to Slemon Park.

Thrustmaster of Texas, a manufacturer of commercial marine propulsion products, signed a deal last week to expand its Houston-based production facility by 100,000 sqft (93,000 sq m). Thrustmaster said the multimillion dollar investment has been in the making for two years and is scheduled for completion in the summer of 2015 by Third Coast General Contractors. The project includes plans to double the size of the product testing area, add an onsite paint and blast facility, develop a new fabrication shop…

Marine Mechanics Institute (MMI), a private school specializing in professional marine technician training, is offering an all-new Mertech training program. The first private school training program of its kind to be officially endorsed by Mercury Marine, a global leader in the design and manufacture of marine propulsion products, Mertech is designed to improve the skills of new technicians who complete MMI's core marine technician training programs. To further enhance his/her technical skills and employment opportunities, Merctech offers an entry-level technician the opportunity to become familiar with Mercury products and dealership operations.

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.