MJP Waterjets Acquires Ultra Dynamics

Press Release
Tuesday, October 23, 2012
Impeller

MJP Waterjets AB (“MJP Waterjets”) based in Österbybruk, Sweden has acquired Ultra Dynamics Ltd and Ultra Dynamics Inc (jointly referred to as “Ultra Dynamics”) based in Cheltenham, England and Columbus, Ohio, USA, with the waterjet brand UltraJet. The merger between MJP Waterjets and Ultra Dynamics creates one of the leading providers of waterjets in the world comprising a complete and complementary product range.  



Customers will now benefit from the two companies’ very strong market positions in their corresponding product segments: MJP Waterjets is known as the number one supplier of stainless steel mixed flow waterjets and Ultra Dynamics is undisputedly one of the most respected suppliers of aluminum axial flow waterjets.



MJP Waterjets and Ultra Dynamics will become even more present in the marine market and will be able to offer new exciting projects in the very near future. The group will jointly work on research and development in order to further strengthen both product lines and enhance the combined company’s leading position.



Anders Björe, CEO MJP Waterjets Holding: “I'm pleased and excited to join this new company, a union of two highly renowned waterjet suppliers. By building on both companies’ strengths, together with the perfect product match, I'm convinced the combination of MJP Waterjets and Ultra Dynamics will deliver enhanced value to our existing and new customers.”



Hans Andersson, Executive Vice President Global Sales and Marketing: “When talking synergies, this merger is exemplary with two product ranges complementing each other to a degree which has seldom been witnessed in the marine market.”



Derek Burton, Chairman of Ultra Dynamics: "When you have been involved in the building of a successful business it is always difficult to let go. However, I am confident that the combination of the MJP and the UltraJet brands are a good marriage for both businesses and that together they will become an ever more powerful force in the waterjet market. It is a perfect partnership and I wish them well."



Redeye and KPMG acted as financial advisors and Andulf Advokat and McGuireWoods as legal advisors to MJP Waterjets and Verdane Capital in this transaction.

 

  • MJP Waterworld

    MJP Waterworld

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

MAN 28/33D STC Engines for Thai Navy’s New OPV

The Royal Thai Navy has ordered a new 90-m offshore patrol vessel (OPV) to be constructed at Mahidol Adulyadej naval dockyard in Sattahip.  The newbuilding, an improved River-class design,

Norsafe Debuts New RIB in Gothenburg

Norsafe has released its first RIB, the Marathon 900, to compliment its range of boat models for professional and military customers.  Launched at High Speed

Wärtsilä Donates Engine to Texas A&M University

Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston.

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

News

GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Long Beach Port Maintains Strong Bond Rating

Fitch Ratings, one of the top three U.S. credit analysis agencies, has affirmed the Port of Long Beach’s “AA” rating on its outstanding debt. Fitch stated the AA rating — its highest for U.

Mergers & Acquisitions

Konecranes-Terex Deal to Proceed as Zoomlion Drops Rival Bid

China's Zoomlion Heavy Industry Science and Technology Co Ltd has abandoned its $3.4 billion bid for U.S. crane maker Terex Corp , clearing the way for a smaller

SCA Applauds Funding for New US Ships

The Senate Appropriations Committee this week acknowledged calls for increasing the Navy’s ship count, funding the construction of 10 new ships, as well as providing the U.

Tideland Signal Acquires Julius Signal

Tideland Signal Corporation, now part of Xylem, has entered into a definitive agreement to acquire certain assets of Julius Signal, extending the company’s portfolio

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.2309 sec (4 req/sec)