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NauticAWT Acquires Marine Engineering Services For $850,000
Daily Bulletin | 05 October 2015
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NauticAWT has announced the execution of a sale and purchase agreement with IMC Offshore Engineering to acquire the entire issued and paid-up capital of Marine Engineering Services (MESPL).

The acquisition of MESPL, a private limited company incorporated in Singapore and principally engaged in the business of providing facilities and project engineering services for the marine and offshore oil and gas industries, will be executed with a consideration of $850,000.

The acquisition is believed to allow the group to expand its core business within the Subsea and Surface Facilities business segment as MESPL is synergistic and complementary to the group’s existing service offerings and can potentially improve the future financial performance of the group.

Furthermore, the group and MESPL can share and tap on each other’s resources for costs synergy, as well as leverage on MESPL’s 17-year track record, expertise and experience of project work to pursue growth opportunities in new and existing markets.

NauticAWT  -- -- --   
Business: Provider of engineered solutions for the oil & gas industry. [FY18 Turnover] Ports & offshore (60.6%), renewables (35.3%), energy & mining (4.1%).

Insight: Mar-19, FY18 revenue slid 15.5% due to decreased r... Read More

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