The acquisition deal is expected to be completed by the end of June, leading to a full integration of all staff and management team.
“We were attracted to the offshore and marine sector by its strong long term fundamentals, particularly in Asia Pacific, and by Singapore's highly strategic position within the industry,” said Heinrich Jessen, group chairman of JJSEA.
“Halcyon Offshore provided us with an ideal opportunity to establish ourselves with a scale business involving manufacturing, engineering and distribution in this attractive sector,” Jessen said.
Simon Wang, ceo of Halcyon Offshore, will continue to head the company as a new and eighth business unit integrated as part of JJSEA.
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