The value of the acquisition deal was agreed at $11m. The yard has been renamed to AZ Marine Offshore Services from Glenn Marine Logistics Base.
The yard sits on a site area of approximately 251,500 sq feet and water frontage of about 2,475 feet long, including a part four-storey/part six-storey detached factory with an open yard and jetty.
“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,” Singapore-listed Aztech said.
Aztech is also involved in the businesses of electronics and lightings, materials supply and food.
The shipyard offers a range of marine services including ship management, vessel agency, ship chandling and ship brokerage. It owns a fleet of 11 tugs, nine barges and two self-propelled conveyor barges, two mooring boats and one passenger launch boat.
“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,” Aztech stated.
“It will also enable AZ Marine to better provide ancillary services such as ship agency, ship chandling and vessel resupply to its clients.”
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