Alam Maritim said in a stock market announcement that its Alam Hidro (AH) unit has formed a joint venture with AME Subsea (AME) called Subsea Worldwide Solutions.
“In line with the agreement, AH and AME have incorporated a joint venture company known as Subsea Worldwide Solutions (SWS),” Alam Maritim said.
SWS is expected to contribute positively to the earnings and net tangible assets of the company for the year ending Dec 31, 2018 and beyond.
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