Excavation Equipment News

Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK), for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited (LeeBoy India) to provide working capital for LeeBoy India’s operations in India. At the same time, SDGK has purchased shares worth INR9.4m (approximately S$0.2m), approximately 1.2% of LeeBoy India’s total share capital, from LeeBoy India’s management staff. The shares were purchased at the subscription price of INR10 (approximately S$0.21) per share in accordance with the terms of the management staff’s employment contracts.

The 125-foot deck barge known as Weeks Barge 236 was refloated Thursday evening at approximately 6:15 p.m. after having been grounded and stuck on shore near Atlantic Beach, N.Y., the U.S. Coast Guard reported. The barge, which was being used to sand blast and paint the Robert Moses Causeway Bridge, went ashore after, according to crew members onboard the tug, a large wave separated the tow line between it and the 26-foot tugboat that was towing it on Monday night. The owners of the barge…