EnvironmentEuropeTankers

Torm takes majority stake in scrubber maker ME Production

Danish product tanker owner Torm has purchased an ownership stake of 75% in ME Production (MEP), a compatriot industrial firm specialising in scrubber development and manufacturing.

Torm said the new partnership builds on a year-long collaboration between the two companies working together, especially in relation to its scrubber commitment.

Torm formed a joint venture with MEP in 2018, which has seen the owner install scrubbers on more than 50 vessels of its around 80-strong fleet developed and produced by MEP or the JV.

The 75% ownership has been acquired from the present owner and founder, Jens Peter Faldt. MEP will continue as an independent, stand-alone entity and will continue to serve its existing customer base. The current management and production team at MEP will continue without any changes, and Jens Peter Faldt will continue as CEO with the remaining 25% ownership.

“I am convinced that combining the experience and engineering resources at MEP with the operational excellence at TORM will help us achieve our environmental targets, where we have decided to push fast forward to deliver a 40% reduction by 2025 and 45% by 2030 compared to 2008,” said Jesper S. Jensen, head of the technical division at Torm.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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