Kawasaki Kisen Kaisha, Ltd. ("K" Line), which acquired through its European subsidiary a 50-percent stake in 2007 in SAL Group, has reached a basic agreement with joint venture partners on purchasing the remaining 50% of the shares of the Group at the end of June 2011. With this transaction, "K" Line will become a 100% owner of SAL Group, the company's press release said. Germany-headquartered SAL Group specializes in heavy lift cargo transportation.
K Line expects the acquisition of the heavy lifter business will help to increase the development of big projects in oil and gas industry.
After acquiring 100% ownership of SAL, "K" Line expects to keep the trading name of SAL, location of head office and employment of all current staff; especially "K" Line would like current staff to continuously play an important role in SAL. Mr. Lars Rolner, who is one of the existing partners, will remain as CEO after the sale of his share.
The "K" Line group has a firm intention to develop heavy lifter business as a core business of "K" Line with the established trade name of SAL and combining abundant experiences and know-how of management and staff of SAL in heavy lifter business.
SAL Group was founded by the Heinrich Family, its company history going back to 1865 when the first vessel SS Amoenitas built at Sietas Shipyard was commissioned. SAL has a staff of almost 120 onshore, and about 100 German and 400 Philippines crew members on vessels worldwide. The SAL Group of companies provides a large array of services including sales/project management, vessel operation and ship management engineering and crewing. SAL possesses and operates 16 heavy lift carriers which have lifting capacity of 600 - 2,000 tons offering 20-knot navigation speed, fastest in the heavy lift industry. And SAL is also the first heavy lift specialist to be certified for HSE (OHASAS18001 and ISO14001), as well as having an environmental passport and meets all highest environmental standards. Its high- spec fleet and highly-skilled officers and crews have an excellent reputation in the market.
K Line expects the acquisition of the heavy lifter business will help to increase the development of big projects in oil and gas industry.
After acquiring 100% ownership of SAL, "K" Line expects to keep the trading name of SAL, location of head office and employment of all current staff; especially "K" Line would like current staff to continuously play an important role in SAL. Mr. Lars Rolner, who is one of the existing partners, will remain as CEO after the sale of his share.
The "K" Line group has a firm intention to develop heavy lifter business as a core business of "K" Line with the established trade name of SAL and combining abundant experiences and know-how of management and staff of SAL in heavy lifter business.
SAL Group was founded by the Heinrich Family, its company history going back to 1865 when the first vessel SS Amoenitas built at Sietas Shipyard was commissioned. SAL has a staff of almost 120 onshore, and about 100 German and 400 Philippines crew members on vessels worldwide. The SAL Group of companies provides a large array of services including sales/project management, vessel operation and ship management engineering and crewing. SAL possesses and operates 16 heavy lift carriers which have lifting capacity of 600 - 2,000 tons offering 20-knot navigation speed, fastest in the heavy lift industry. And SAL is also the first heavy lift specialist to be certified for HSE (OHASAS18001 and ISO14001), as well as having an environmental passport and meets all highest environmental standards. Its high- spec fleet and highly-skilled officers and crews have an excellent reputation in the market.