Keppel Hitachi Zosen To Buy Selected Businesses
September 9, 1999
Keppel Hitachi Zosen Limited (KHZ) has agreed to purchase the shiprepair/shipbuilding and related businesses of Keppel Marine Industries Limited (KMI) for $167 million in cash. Total net assets include $69 million, resulting in a gain of $4 million for KMI.
KHZ will acquire all of KMI's investments in Keppel Singmarine Dockyard Pte, Eagle Engineering Company (100 percent), Keppel Philippines Marine (11.6 percent) and Penguin Boat International (16.5 percent). Resulting from this acquisition, KHZ group will offer a full range of shiprepair, conversion and shipbuilding facilities.
Related News
Houthis Will Target All Ships Heading to Israel, Group Says
Gulf Intercoastal Waterway Closed After Barge Strikes Bridge in Galveston
Containership Lost Power Several Times Before Striking Bridge in Baltimore
Russia Steps in After India Drops Safety Cover for Sanctioned Vessels
UK Confirms It Will Build Six New Warships