Avic to acquire Deltamarin
China-based Avic International has entered a deal to puchase Finland-based ship designer Deltamarin for EUR32.1m ($41.7m), Seatrade Asia online reports.
The proposed 100% buyout of Deltamarin is expected to contribute to Avic's growth strategy to be a dominant player in the global shipping industry, Singapore-listed Avic said.
“The company will be able to leverage and benefit from the potential operational synergy and cost savings arising from the addition of Deltamarin into the Group, Avic said.
Deltamarin, established in 1984, specialises in providing design, engineering and contracting services for the marine industry.