Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 26-Aug-2014

Singapore's Aztech Group has acquired Glenn Marine's Singapore shipyard with the acquisition of 100% shares of a company owning the leasehold interest of the yard. The deal is worth $11m and with this acquisition the yard has been renamed to AZ Marine Offshore Services from Glenn Marine Logistics Base.

Location of the yard is on a site area of around 251,500 sq feet and water frontage of around 2,475 feet long, to include a part four-storey/part six-storey detached factory with an open yard and jetty. Aztech which also deals in the businesses of electronics and lightings, materials supply and food, said, “The acquisition is in line with the overall strategy of the group to strengthen its core marine logistics capability, as well as expand its ship repair and maintenance capacity.”

The shipyard offers marine services such as ship management, vessel agency, ship chandling and ship brokerage. It has a fleet of 11 tugs, nine barges and two self-propelled conveyor barges, two mooring boats and one passenger launch boat. Aztech said, “In the long run, this acquisition will further open up new revenue opportunities in the fabrication and high value-added services catering to the fast growing oil and gas industry. It will also enable AZ Marine to better provide ancillary services such as ship agency, ship chandling and vessel resupply to its clients.”

Go to previous page