Norwegian-based Eitzen Maritime Services ASA (EMS) has sold its lifeboat builder subsidiary Strømme NME AS to Eide Marine Tech.
An EMS statement says: “The sale reflects EMS' strategy of developing its Ship Supply division into a pure play global maritime supply organization. Following the sale, EMS has no manufacturing activities.”
EMS says it has made a profit of Nkr5.0m (US$980,186) which will be booked in the second quarter. The Strømme NME manufactured products will continue to be sold under the NORMAR brand, while EMS maintains ownership of the Strømme brand.
Strømme NME has annual sales of about NKrt65m with operations at Husnes, Norway and in China.
"Our strategy is to further develop the Ship Supply division as the global leader in the industry. We are primarily a sales and logistics organization. The manufacturing of maritime products is no longer within our scope and we are extremely pleased to have found a professional new owner of Strømme NME. Eide Marine Tech has an outstanding track record in developing and manufacturing marine products," said EMS' CEO, Annette Malm Justad.
An EMS statement says: “The sale reflects EMS' strategy of developing its Ship Supply division into a pure play global maritime supply organization. Following the sale, EMS has no manufacturing activities.”
EMS says it has made a profit of Nkr5.0m (US$980,186) which will be booked in the second quarter. The Strømme NME manufactured products will continue to be sold under the NORMAR brand, while EMS maintains ownership of the Strømme brand.
Strømme NME has annual sales of about NKrt65m with operations at Husnes, Norway and in China.
"Our strategy is to further develop the Ship Supply division as the global leader in the industry. We are primarily a sales and logistics organization. The manufacturing of maritime products is no longer within our scope and we are extremely pleased to have found a professional new owner of Strømme NME. Eide Marine Tech has an outstanding track record in developing and manufacturing marine products," said EMS' CEO, Annette Malm Justad.