AVIC International Investments Limited Signs Agreement to Acquire Majority of Deltamarin's Shares

By MarEx 2012-10-15 16:43:55

The majority of the shares of Deltamarin Ltd are to be sold to AVIC International Investments Limited, a publicly listed company on the Singapore Stock Exchange. After the closing of the acquisition, Deltamarin’s existing operations will continue as they are and the business will remain independent keeping the name and the brand of Deltamarin unchanged. The aim of the intended new ownership structure is to enable Deltamarin’s solid growth in the marine and offshore oil and gas markets.

The new owner to be, AVIC International Investments Limited, is a part of the AVIC Group. Its parent company AVIC is a global Fortune 500 company with approximately 500,000 employees. AVIC is headquartered in Beijing and has more than 300 subsidiaries around the world, of which more than 20 are publicly listed. Deltamarin’s existing management and key employees have also agreed to make long term commitments to the company by re-investing the shares of the company.

Deltamarin has for the past few years impressed the marine market with its sustainable and cost efficient bulk carrier designs among the other innovative ship and floater concepts. With the support of the new owners, Deltamarin will be able to develop new innovative products and further improve existing ones. Combining the resources of AVIC Group and Deltamarin will create one of the most comprehensive maritime expert services companies in the world. Deltamarin’s excellence centres for concept and product development will remain in Europe but its global activities will increase in both scale and scope.

With the support of the AVIC Group, Deltamarin can provide more complete solutions and deliver ready made products for their customers. Another benefit will be that the company can now also offer financing for their customers’ investments.

When commenting on the acquisition, Mr. Mika Laurilehto, Managing Director of Deltamarin Ltd says: “This transaction opens up interesting opportunities for Deltamarin to expand our offering for the merchant marine and offshore oil and gas industry. We will have the financial support of a strong international Corporation to further develelop the scope of services to our customers. This also opens up various possibilities for our competent employees to utilize their knowledge and skills to pursue new business opportunities.”