The waterfront site, located near the port of Fremantle, is serving as a critical construction materials and equipment supply base to the offshore oil and gas developments operating off the coast of Western Australia.
Wong Bheet Huan, ceo of Triyards, said the high volume of port and LNG activities in the area will allow the company to use the yard as a base to expand its ship repair services beyond Vietnam.
The engineering and fabrication services firm expects the acquisition to be funded via cash and the issuance of new ordinary shares to seller Henderson Supply Base. The deal is expected to be completed before the end of 2013.
“Moving forward, we will continue to explore opportunities which complement our existing capabilities and further our goal of becoming a leading engineering, ship construction and fabrication solutions provider to the global offshore oil and gas industry,” Wong said.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
