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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to

Thrustmaster Announces Factory Expansion

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).

Marine Power

Corvus Gains Support from WINN Initiative

Corvus Energy announced today the award of $1.3 million in repayable assistance from the Western Innovation (WINN) Initiative for its project to further develop the Corvus Energy Storage System.

Thrustmaster Announces Factory Expansion

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).

Smith Brothers Chrtisten New Tug

Smith Brothers, Inc., Chesapeake Bay-based barge and marine equipment charter company, recently added the tug Capt. Kenneth to its fleet of inland and truckable tugs.

News

Missouri River Basin is Booming

The U.S. Army Corps of Engineers Missouri River Basin Water Management Division is maintaining above normal releases at the four lower dams on the Missouri River.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Twin Disc Offers Virtual and Real EJS Experience

Visitors to the Fort Lauderdale International Boat Show, October 30–November 3, 2014, can experience what it’s like to control a diesel-powered, conventional driveline

Marine Equipment

Twin Disc Offers Virtual and Real EJS Experience

Visitors to the Fort Lauderdale International Boat Show, October 30–November 3, 2014, can experience what it’s like to control a diesel-powered, conventional driveline

Messer to Debut MetalMaster Xcel

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s

SOSI Delivers Mooring Winches; Completes Test Pad

Sound Ocean Systems, Inc. (SOSI) announced the delivery of two unique mooring winches, both tested on its newly constructed test pad at its primary manufacturing facility in Sultan, Wash.

Mergers & Acquisitions

Navico Acquires MARIS; Expands Portfolio

Navico Holding AS, parent company to the Simrad brand of navigational marine electronics, has reached an agreement to acquire MARIS (Maritime Information Systems A/S) from The Grieg Group.

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process,

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2628 sec (4 req/sec)