Imtech Bankrupt, Parts Sold to Investors
Dutch engineering services company Royal Imtech has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday. Imtech, which employs 22,000 people in 35 countries and has annual sales of roughly 4 billion euros ($4.5 billion), filed for protection from creditors on Tuesday after its German unit filed for insolvency. The break-up of Imtech, once a darling of the Amsterdam stock exchange, capped more than two years of financial turmoil triggered by accounting fraud at its Polish and German units. No figures were given, but Imtech said the sale of the two units would secure 7,300 jobs.
Buyers Reach Agreement on Imtech Takeover
Pon Holdings and Parcom Capital announced they have agreed to buy Imtech Marine, the marine division of Dutch engineering services company Royal Imtech who has been declared bankrupt. No monetary figures have been shared. The final details of the takeover are yet to be worked out. Pon Holdings and Parcom Capital claim their advent as the new shareholders guarantees the continuity of Imtech Marine while also allowing the company to realize its growth ambition. The takeover creates peace of mind and security among employees, customers and suppliers, the buyers said in a press release. “We are extremely happy with Pon Holdings and Parcom Capital as the new ‘owners’ of Imtech Marine,” said René ten Brinke, Director Global Services of Imtech Marine.
Pon Holdings Acquires Imtech Marine
Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market. Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition. The acquisition price is not disclosed. The ailing Imtech was formally declared bankrupt on Thursday. The takeover creates peace of mind and security amongst employees, customers and suppliers. Imtech is operating as a full-service provider and system integrator of tailor-made…
W&O Supply Holds a Steady Course
Michael Hume, President & CEO, holds top marine distributor W&O Supply on a steady course. W&O has been a distribution leader in the commercial marine space for more than four decades for a number of reasons, but it all starts with stability at the top, in the form of the leadership of Michael Hume, President & Chief Executive Officer. Hume has been with the company since 1992, and on a recent visit to his office in Jacksonville, Fla., he discussed the challenges and opportunities that lie ahead for his company.
Imtech Marine Acquisition Finalized by Pon, Parcom
The acquisition of Imtech Marine by Pon Holdings and Parcom Capital has been finalized. The European Commission has approved the takeover of the leading maritime service provider. Imtech Marine will continue to operate independently and will, in the coming period, further focus on its growth ambitions. René ten Brinke, CEO of Imtech Marine: ‘’Now that the acquisition is completed, a new era arises for Imtech Marine. The coming years, our aim will be to further strengthen our leading position in the maritime sector, with dedicated focus on our customers, employees and suppliers. Imtech Marine is a company in the global maritime market, operating as a full-service provider and system integrator of tailor-made, innovative and sustainable technology solutions covering the whole ship.
Imtech Marine Becomes RH Marine Group
The new RH Marine Group, formerly known as Imtech Marine was introduced at the Europort exhibition in Rotterdam today. Following the recent acquisition by Parcom Capital and Pon Holdings, Imtech Marine will now be known as RH Marine Group, built on the roots of founding companies Radio Holland and van Rietschoten & Houwens. The two ‘pillars’ for service and newbuild activities within Imtech Marine are also involved in the new naming structure. Global NavCom, Connectivity, On Board ICT service and maintenance brand Radio Holland will keep its name but will have a new logo.
Radio Holland Awarded Remote Monitoring Agreement
Radio Holland, part of the newly formed company RH Marine Group, has been awarded a Remote Monitoring Agreement from The China Navigation Company (CNCo). Under the new agreement, Radio Holland will install VDR Remote Interface on board three more CNCo vessels (Coral Chief, Highland Chief and New Guinea Chief). The company’s decision to place these three vessels under a Remote Monitoring Agreement follows a successful pilot scheme on its multipurpose vessel, the Papuan Chief. RH Marine Group…