Bangladesh: WFSL, DanSea and AS Scan Form Joint Venture – Scan Machinery BD

Bangladesh will start producing hydraulic machinery for vessels in pursuing efforts to reduce outsourcing hydraulic tasks overseas, reports The Daily Star. A local firm, Western Fishers Shipyard Ltd (WFSL), and its Danish partners DanSea and AS Scan have made a deal marking the formation of a joint venture, Scan Machinery BD Ltd.

The production portfolio of this new company will comprise hydraulic machinery ranging from steering gears to winches, net drums, propellers and nozzles.

A Rouf Chowdhury, chairman of WFSL, will be in charge of the new company as its chairman and Lars Jensen of DanSea is the managing director of the 50:50 joint venture.

Supported by Danish International Development Agency’s business partnership program, the company will focus on supplying hydraulic systems to vessels including deep-sea fishing trawlers, oil tankers, ferries and domestic and export oriented ships. According to the statement, the company will also provide on-board installation and after-sales services.

It is expected that hydraulic systems will be supplied to vessel builders by July this year, said Md Sakhawat Hossain, managing director of Western Marine Shipyard Ltd, a partner WFSL.

“We don’t want to limit ourselves to Bangladesh only. In future, we want to secure export orders not only from Asian market and but also from Europe,” explained Hossain, adding that the company will initially invest $1 million.

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Shipbuilding Tribune Staff, March 7, 2012