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

People & Company News

Illegal Fishing Threatens to Revive Somali Piracy

Somali officials say foreign ships plundering fish stocks; Somali piracy greatly reduced due to security measures. A rise in illegal fishing off Somalia could spark a resurgence in piracy,

USCG Rescues 9 from Canadian Tall Ship

Coast Guard search and rescue crews from Station Gloucester, Air Station Cape Cod and the Coast Guard Cutter Ocracoke rescued nine crewmembers from the Canadian

MOL to Name New Chairman, President

Mitsui O.S.K. Lines, Ltd. today announced the appointment of a new chairman and president.   Current President and Representative Director Koichi Muto will assume

Marine Propulsion

ABG Ties Up with GTT for LNG Technology

ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint.

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

MAN Demonstrates Two-Stroke Methanol Engine Concept

MAN Diesel & Turbo successfully demonstrated its ME-LGI concept engine in front of customers and partners at its Diesel Research Center in Copenhagen on March 17th, the company announced today.

Marine Power

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

MAN Demonstrates Two-Stroke Methanol Engine Concept

MAN Diesel & Turbo successfully demonstrated its ME-LGI concept engine in front of customers and partners at its Diesel Research Center in Copenhagen on March 17th, the company announced today.

Shipbuilding First: Strategic Delivers StratCat to Njord Offshore

Strategic Marine delivered a world’s first to European windfarm service sector operator, Njord Offshore.  This vessel builds on the success of the first eight

News

Illegal Fishing Threatens to Revive Somali Piracy

Somali officials say foreign ships plundering fish stocks; Somali piracy greatly reduced due to security measures. A rise in illegal fishing off Somalia could spark a resurgence in piracy,

BP Terminates GoM Rig Contracts

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

USCG Rescues 9 from Canadian Tall Ship

Coast Guard search and rescue crews from Station Gloucester, Air Station Cape Cod and the Coast Guard Cutter Ocracoke rescued nine crewmembers from the Canadian

Marine Equipment

Cargotec Solely owns China Crane

Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own

MSC Acquires Second Boxship

MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin,

SCI takes Delivery of VLCC "Desh Vibhor"

The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Oil Carrier (VLCC) on 28th March, 2015. The vessel has been named as m.t.

Mergers & Acquisitions

Cargotec Solely owns China Crane

Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own

Hamburg Süd Completes CCNI Takeover

Effective 27 March 2015, Hamburg Süd has taken over the container liner activities of Compañía Chilena de Navegación Interoceánica S.

MSC Acquires Second Boxship

MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin,

Interior Outfitting

NYC Ferries: Gladding-Hearn Building Three New Vessels

Gladding-Hearn Shipbuilding, Duclos Corporation, has begun construction of the first of three new sightseeing vessels for Circle Line Sightseeing Cruises, Inc., in New York City.

IMTRA Announces Exclusive Sola-Cure Distributor Partnership

IMTRA announced today through its exclusive North American distributorship of Sola-Cure shades — its line of customizable, high-quality and comprehensive solutions

MacGregor's Deck Equipment for Chinese Shipbuilder

MacGregor, part of Cargotec, has won a contract from Chinese shipbuilder Wuhu Xinlian to supply two complete deck equipment packages for a pair of 78m anchor handling,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.2045 sec (5 req/sec)