Shanghai: Zhangjiagang-based Furui Special Equipment, a provider of marine equipment and gas storage equipment, has announced that it plans to acquire a 51% equity share in Six Tee Engineering Group, a Singapore-based EPC service provider in the marine and offshore sectors, through its Singapore subsidiary Furuise (Singapore) Investment Holding.
Furui plans to use $4.99m to acquire 38.75% equity shares and spend another $3.21m to replenish the registered capital of Six Tee.
Furui said the acquisition deal will support its business expansion in the offshore LNG equipment and international market.
Six Tee Engineering Groups now operates three subsidiaries including Six Tee (Europe) Marine & Offshore Technology, Six Tee Offshore Project Services and Six Tee (Tianjin) Marine & Offshore Engineering.