Wärtsilä’s (OMX: WRT1V) Southeast Asian offering continues to increase. The Finnish firm agreed to acquire Singapore-based MMI Boiler Management. It has a solid market position in the region particularly within offshore segment with 2011 net sales at around 5.3 million Euros and 138 employees. All the employees including the owners continue with Wärtsilä. The value of the deal, which is expected to be concluded in Q1, was not disclosed.
MMI Boiler Management is active in both marine & land industries and has steam raising plants and ships as well as rig owners as customers. It has manufacturing capabilities for various products such as boiler water wall membrane panels, exhaust gas boilers, heater elements, various pressure retaining ancillaries, loose tubes, pipes and steel components and pressure vessel tanks among others. The main focus is to provide services for repair & erection of boilers.
Bergen Group’s (OSE: BERGEN) crane and lifting equipment supplier Bergen Group Dreggen landed several contracts worth close to 50 million NOK on aggregate in the past week. Scana Industrier (OSE: SCI) said its subsidiary Scana Propulsion has doubled its order book for service activities in the last two months. This should help keeping earnings acceptable despite low global contracting levels within shipbuilding industry.
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