ASRY, ONEX Partner on Ship Repair

Arab Ship Shipbuilding and repair Yard (ASRY) and ONEX Shipyards Greece have signed a memorandum of understanding (MOU) with the aim to jointly collaborate on knowledge and experience sharing in the sector of maritime repair, technology, optimization, modernization and to explore future business opportunities.

The MOU signing ceremony took place virtually between the two companies in the presence of Kyriakos Mitsotakis, the Greek Prime Minister who was visiting ONEX shipyards at that time.

"We are looking forward to the positive results of this MOU, which opens up a new horizon for the development of ASRY’s business on an international scale," said Mazen Matar, Managing Director and Board Member of ASRY. "For decades now, ASRY has been working with and providing its services to the major Greek ship owners. The signing of this MoU today, only strengthens these relations and take them to broader dimensions not only for the repair and maintenance of Greek Ships, but for entering partnerships with the Greek shipyards.

"The ONEX Group is one of the leading Greek business groups with a wide range of specialized companies such as ONEX Shipyards whom we look forward to seriously working with soon."

Panos Xenokostas, President and CEO of ONEX Group, said, “We are very pleased to join forces with the Arabian Gulf’s leading maritime and industrial optimization yard ASRY. Together we can implement the best practices and exchange valuable know-how for the benefit of our shared clientele. Our alliance will leverage our competitiveness to address the global market, so we look forward to start unfolding all this great potential of our cooperation the soonest possible.”