CJR Propulsion Acquires Oval Stainless

Posted by Eric Haun
Friday, January 31, 2014
Photo: Oval Stainless

CJR Propulsion announced the completion of an agreement to purchase all commercial assets and intellectual property from leading stainless steel fabricator, Oval Stainless. In addition, the agreement includes the transfer of all current employees – helping to secure the continued employment of Oval's existing, highly-skilled team.

The acquired assets and retained staff will form part of the newly established CJR Fabrication, bolstering the Hampshire based business' current product line-up, as well as provide new opportunities within the marine sector, as CJR's managing director Mark Russell explained, "Oval Stainless' assets are an excellent strategic fit for CJR and we are delighted to have finalized this significant acquisition in such a short space of time. The integration of Oval's intellectual property and physical assets instantly strengthens CJR's value proposition in the marine sector and enables us to bring the production of high quality deck gear and stainless stern-gear in house for the first time.

Russell added, "In the last five years CJR has made a conscious effort to diversify its offering and today we boast extensive experience in a wide range of consultancy services; in addition to our advanced manufacturing capabilities. The inclusion of Oval's assets continues to build on this strategy and significantly extends the value of CJR to boat builders across the marine sector. In turn, this helps consolidate our position as a highly valued and integral partner to some of the most prestigious names in the industry."

Oval Stainless currently specializes in producing stainless steel products for a wide range of applications within the commercial and domestic arena, including oval and round tube, bespoke furniture, interior and exterior design, as well as marine, tanks and architectural equipment.

Under the terms of the agreement, CJR Propulsion will pay an undisclosed cash sum for all assets, subject to typical closing conditions, with completion expected by the end of February 2014.

cjrprop.com
 

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

People & Company News

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

USCG Rescues Unconscious Boater

The Coast Guard rescued an individual from a marsh flat in Barataria Waterway located approximately six miles north of Grand Isle, Tuesday. Coast Guard Sector

News

Twelve Syrians Drown Trying to Reach Greece

At least 12 people believed to be Syrian refugees drowned as two boats sank after leaving southwest Turkey for the Greek island of Kos on Wednesday, a senior Turkish naval official said.

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

Marine Equipment

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

SMOE Wins $1bln Multi-platform Culzean Contract

Singapore's offshore services provider Sembcorp Marine has won an engineering, procurement and construction (EPC) contract worth over USD1 billion for the Culzean

SHIPPINGInsight to Focus on Ship Telematics

The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn.

Mergers & Acquisitions

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.9243 sec (1 req/sec)