KONGSBERG to Acquire Rolls-Royce Commercial Marine
Kongsberg Gruppen ASA (KONGSBERG) today entered into agreement with Rolls-Royce plc to acquire Rolls-Royce Commercial Marine, a world leading technology business within maritime operations. The transaction is structured as an acquisition by KONGSBERG of the marine products, systems and aftermarket services businesses carried out by subsidiaries of Rolls-Royce plc. The transaction does not include Bergen Engines nor Rolls-Royce's Naval Business. The parties have agreed a value…
Rolls-Royce Inks Service Deal with Siem Offshore, Subsea 7
Siem Offshore and Subsea 7 have signed a joint three-year service agreement with Rolls-Royce. The agreement covers a total of 74 offshore vessels. This is the first agreement the two Siem owned companies have signed with the same service provider. Under the agreement, Rolls-Royce will maintain and service all of the equipment it has delivered to the two companies’ offshore vessels. At present, aftermarket services account for roughly 40 percent of Rolls-Royce Marine’s revenues. Long-term agreements account for around a quarter of this.
DSC Dredge Digs In
The world of dredging is defined by the vast diversity of each assignment that contractors perform on any given day. Fortunately, DSC’s standard lineup of dredge equipment can be modified and customized to meet just about any job that needs doing. It wasn’t too long ago that retired U.S. Coast Guard Admiral Jim Loy told me, “If you’ve seen one port, well, you’ve seen one port.” That now-famous declaration was made in reference to port security in a post-9/11 world, but the quip is as valid now as it was when he said it during his tenure as Commandant of the U.S. Coast Guard.
J.F. Lehman Acquires Oldenburg's Heavy Equipment Group
J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units. The new company will be named Lake Shore Systems, Inc., in a return to its roots dating back to 1858. The acquisition will represent JFLCO’s 25th sponsored platform investment since the firm’s inception. Lake Shore designs, engineers, manufactures and supports complex, heavy equipment systems to meet mission critical requirements in harsh operating environments…
Keppel Acquires LeTourneau
Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business, as well as its aftersales and aftermarket services. The acquisition will not only broaden Keppel O&M's suite of jackup rig designs but also expand its business in the provision of aftersales and aftermarket services, the company said. The acquired company will operate as Keppel LeTourneau with offices in the United States, United Arab Emirates and Singapore. Chow Yew Yuen…
Keppel Acquires Cameron's Rig Business
Singapore's Keppel Offshore & Marine (KOM), via subsidiary, Keppel Offshore & Marine USA has inked a deal with Cameron International Corporation, a US-based oil and gas solutions provider, to acquire its offshore rigs business for US$100mln. This segment is made up of Cameron's proprietary LeTourneau jack up rigs designs, its rig kit business, and aftermarket services. The LeTourneau jack up rigs designs have been popular with certain market segments and will help Keppel expand its suite of jackup rig offerings, Keppel said in a statement.
Foster Wheeler For Air Quality Control System Upgrade In West Virginia
Foster Wheeler AG announced today that a subsidiary of its Global Power Group’s Environmental and Industrial division has been awarded a contract by Longview Power, LLC to rehabilitate and optimize the wet flue gas desulfurization system at their existing 700 MWe (net megawatt electric) Longview Power facility in Maidsville, West Virginia, USA. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2014 bookings.
Foster Wheeler Signs Agreement With BOC to Replace Heat Exchangers
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has signed an engineering, procurement and construction management (EPCm) services agreement with BOC, a member of the Linde Group, for the installation of replacement heat exchangers at BOC’s Teesport facility, Teesside, in northeast England. The Foster Wheeler contract value was not disclosed and was included in the company’s first-quarter 2014 bookings. Under this agreement…
Foster Wheeler Wins Contract For Retrofit-SCR System
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Turun Seudun Energiantuotanto Oy (TSE) for the design, supply and erection of a retrofit-selective catalytic reduction (SCR) system for TSE’s Naantali unit 3 in Finland. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s bookings for the second-quarter of 2014. Commercial operation of the SCR system is scheduled for October 2015.
Foster Wheeler's Terrace Wall Steam Reformer Heater For Kazakhstan
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Marubeni Corporation for the engineering and material supply of a new Terrace Wall steam reformer heater, including an air preheating system, for the KazMunayGaz oil refinery located at Atyrau, Republic of Kazakhstan. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s first-quarter 2014 bookings.
Milestone Renewable Contract for Expro
Expro Connectors & Measurements’ new renewable division has been awarded an important order by Alstom. Expro Connectors & Measurements (C&M) partners with Alstom to develop a cable connection and management system to be deployed on one of Alstom’s ocean energy projects, thus contributing to Alstom’s development of clean technology solutions to harness the energy potential of the world’s oceans. Expro will be supplying its SpecTRON, DigiTRON and FoeTRON wet mateable products alongside a cable connection system and termination head as well as cable protection and aftermarket services for site cable termination. This system will provide the subsea connection between the power export cable and the energy converter device.
Volvo Penta, Yamaha Examine Further Collaboration
AB Volvo Penta and Yamaha Motor Co., Ltd have decided to set up joint working groups to evaluate the potential for deeper collaboration between the companies. On December 6, Volvo Penta and Yamaha Motor announced that they had signed an agreement involving technological collaboration relating to the development of electronic control systems for boats. This collaboration is designed to produce technological synergies in the increasingly important field of electronics. The collaboration became operational at the end of the year, but the parties have already decided to take things further and conduct joint studies of the way cooperation between the companies could be further extended. “Volvo Penta is a world leader when it comes to marine power systems.
Cameron Multi-Million Dollar Award for Subsea Systems
Cameron (NYSE: CAM) has received an order for the supply of subsea production systems for a deepwater and offshore gas processing and pipeline project in the South China Sea. The project will include subsea equipment, as well as an agreement to provide additional services across the life of the field. Deliveries are scheduled to begin in late 2011 and continue through 2012. Cameron President and Chief Executive Officer Jack B. Moore said, "At water depths of nearly 5,000 feet, this represents the deepest prospect to date in the Asia-Pacific region. We are pleased to have the opportunity to provide Cameron's equipment and technology in support of this important development.
Bosch Rexroth acquires Hägglunds Drives
Ratos has agreed on the sale of Hägglunds Drives to the German company Bosch Rexroth. ” Focused efforts in recent years to accelerate growth through investment in the sales and marketing organisation, new markets and segments, and expanded aftermarket services as well as extensive product development have laid the foundation for Hägglunds Drives’s positive development”, says Ratos CEO Arne Karlsson. ”Together with Bosch Rexroth we will be able to further develop our focus on offering complete hydraulic drive systems in several of our existing segments. We will also be able to offer our deliveries of complete hydraulic drive systems to new interesting segments as renewable energy production.
Aker Kvaerner Secures Framework Agreement with Shell
Aker Kvaerner has signed a five-year partnership agreement with Shell U.K. Limited and A/S Norske Shell ('Shell') covering the provision, installation, commissioning and life-of-field support of subsea control systems in the North Sea. The framework agreement is signed for an initial five year period, with five optional one-year extensions. It could be worth between GBP 20 and 30 million over the first five years. The contract encapsulates the two companies' solid working relationship, which has been running since the late 1970s. The deal brings Aker Kvaerner Subsea's controls delivery and service, including aftermarket services, into one contract arrangement to ensure maximum efficiency in supporting Shell's projects.
Rolls-Royce Acquires VT Controls
Rolls-Royce has acquired marine electrical systems company VT Controls Ltd for £11 million, continuing its growth strategy in the marine market. VT Controls Ltd, acquired from the VT Group, will be incorporated into the Rolls-Royce Marine Electrical Systems business set up earlier this year. The acquisition is an important addition to the new business's capability, as it ramps up to support marine projects involving major electrical systems. Based in Portsmouth, VT Controls Ltd has provided power or automation systems on all front line UK naval platforms in the last decade and is involved in current naval programmes both in the UK and abroad. The company has an impressive pedigree that stretches as far back as the early 1970s when it supplied controls for Brazil's Mk 10 frigates.
FGH Announces $10 Million in New Contracts
FGH Engineered Products Group, the equipment segment of Friede Goldman Halter, Inc., announced that its AmClyde unit has signed new contracts totaling over $10 million with several customers in the international offshore oil and gas sector. AmClyde crane to a new vessel. AmClyde also has a contract from Horizon Offshore Contractors to upgrade the lifting capacity on their existing AmClyde Model 52 marine crane by more than 50 percent. AmClyde is the preeminent designer/builder of the world's largest marine cranes. support services for their new 3,800-ton AmClyde marine crane. services contract. contract from AIOC (Azerbaijan International Operating Company) to provide a template leveling system. a further boost to the backlog of our Engineered Products Group. this group.
Ulstein Formalizes Aftermarket Focus
Peter Hjelle, Paul Inge Steinnes and Robert Eksund coordinate service and aftermarket projects at Ulstein Elektro. Ulstein Elektro is formalizing its aftermarket focus through the establishment of a separate service and aftermarket division. “In order to take care of this rapidly growing market, we now offer a separate business area called Ulstein Worldwide Services. When we deliver a system or product, we also commit ourselves to service and maintenance in order to guarantee safe and lasting product use. We provide service and adjustments to all types of maritime services as part of this offer,” says Robert Eksund, service group leader at Ulstein Elektro. The Worldwide Services division has a staff of 35.
Aker Kvaerner and Statoil Sign Agreement
Aker Kvaerner has signed a letter of intent with Statoil ASA to enter a five-year frame agreement for the delivery of subsea production systems and related operational services. The agreement will make Aker Kvaerner's subsea division a preferred supplier to deliver complete subsea solutions to Statoil's new field developments as well as additional equipment to new and existing fields. The frame agreement for aftermarket services is valid for new fields. The agreement for delivery of subsea production systems is awarded for a five year period with an optional period of two x two years. The contract for operational services will run for five years. The extent of the frame agreement is first and foremost to cover Statoil's needs on the Norwegian continental shelf.