Singapore: Offshore support vessel operator Vallianz Holdings Limited, has announced that subsidiary Vallianz Shipbuilding & Engineering has entered into an agreement to acquire a shipyard facility in Batam, Indonesia.
Vallianz is acquiring Singapore-incorporated Jetlee Shipbuilding & Engineering and its Indonesian entity PT United Sindo Perkasa, who owns a fabrication and engineering shipyard located at Kabil, Nongsa. The purchase price is S$19.8m, via the issue of approximately 143m shares in the capital of Vallianz at an issue price S$0.138 per share.
Vallianz ceo, Darren Yeo, said of the deal, “With direct ownership in a shipyard facility, Vallianz will have its own marine base to dock and carry out maintenance operations for our vessels and third-party vessels that are managed by the Group. As we continue with our fleet expansion program, we expect to reap greater cost savings and operating efficiencies from having our own marine base as compared to leasing third-party shipyards. The shareholders of Jetlee are industry veterans with decades of experience in the marine sector.” [22/09/14]