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DD World shuffles execs after Pan-United buyout

DD World shuffles execs after Pan-United buyout

Dubai: Shipyard group Dubai Drydocks World (DD World), now also incorporating Jadaf Shipyard and Platinum Yachts, has made top management changes after sealing its first overseas acquisition.

An end-May bid for a controlling stake in Pan-United Marine shipyard of Singapore (pictured) was accepted by investors holding 70% of shares in a deal valuing the company at USD424m.

"The acquisition of Pan-United Marine Limited, an established shipyard in Southeast Asia, is a strategic first step in taking the expertise of the DD World group companies to the international stage," said DD World ceo Geoff Taylor. "The senior management of DD World intends to work closely with the senior management at Pan-United Marine Limited to ensure a smooth handover of the business."

As a result, Joao Macedo will be relocating to take up the position of managing director of Pan-United Shipyard in Singapore and Mr Krishnarkumar will join him to take up a senior managerial position, reports ShipRepair Newsletter. Nawal Saigal becomes managing director of Dubai Drydocks.

Other organisational changes in Dubai Drydocks are as follows: in the Commercial Division, Ravi Senaratne is appointed commercial director and
L. Janarthanan  commercial manager; in the Production Division, Mohamad Rizal becomes production director and S. Saxena production manager; and in the Newbuilding Division, Mark Biggs is newbuilding director and M.P. Singh newbuilding manager.  [08/07/07]