Sembmarine completes purchase of Norway’s LMG Marine
Singapore’s offshore rig builder Sembcorp Marine Ltd has completed the acquisition of Norway’s LMG Marin AS for $20 million.
Sembmarine said on Friday that LMG has now become an indirect wholly-owned subsidiary of the company.
Offshore Energy Today reported on Sembmarine’s plans to acquire the Bergen-based ship design and engineering company in an article published on Monday, August 22.
LMG is an engineering and design company, with its project portfolio spanning floating structures, platforms and a wide variety of ship types, such as drillships; floating production, storage and offloading vessels (FPSO); floating storage and offloading vessels (FSO); offshore support vessels (OSV); LNG carriers; LNG-powered ships; car ferries; and cruise ships.
LMG originated several key designs adopted by Sembcorp Marine, including the Espadon drillship design; the FSO design used in the ongoing construction of the Company’s newbuild FSO for deployment in the UK North Sea, among others.
This is not the only acquisition Sembcorp Marine has undertaken in August. The company this week said it would take full control of its subsidiary PPL Shipyard (PPLS), through the acquisition of the remaining 15% for $115 million.
Offshore Energy Today Staff