Technics Oil and Gas to takeover ship repair firms

Singapore: Technics Oil and Gas, an integrator of compression systems and process modules for the global offshore oil and gas sector, has agreed to acquire an 80% share in ship repair and engineering firms Marinelift Testing & Supply and Rigging & Marine Services.
In a release to the Singapore Exchange, Technics said the addition of the two firms will be complementary and ancillary to the company’s existing core business, and presents an opportunity to acquire a profitable company with viable business model and a good management team.
The deal will cost Technics S$16.46m via a combination of shares and cash. [11/07/14]

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