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Sembmarine spends $20m to acquire LMG Marin

Sembmarine spends $20m to acquire LMG Marin
Singapore’s Sembcorp Marine has made a move to takeover a Bergen-based naval artchitecture and ship design and engineering firm LMG Marin for $20m.

The acquisition of the 100% equity stake in Norway’s LMG Marin will be made by Sembcorp Marine Integrated Yard, wholly-owned by Sembmarine, following the signing of a sale and purchase agreement.

“Through the strategic acquisition of LMG, Sembcorp Marine further strengthens its intellectual property and knowledge to execute leading-edge design and engineering solutions for the global offshore and marine sectors,” said Wong Weng Sun, ceo of Sembmarine.

“This in turn supports our ongoing efforts to move up the value chain so that we can compete better and do more for our customers and partners,” Wong added.

Bergen-headquartered LMG Marin, established in 1943, also has offices in Poland and France. It has extensive design and engineering portfolio spanning floating structures, platforms and a wide variety of ships types such as drillships, FPSOs, FSOs, OSVs, LNG carriers, LNG-powered ships, car ferries and cruise ships.

LNG Marin originated several key designs adpoted by Sembmarine, including the next-generation Espadon drillship design, the FSO design used in the ongoing construction of a newbuild FSO for deployment in the UK North Sea, as well as the Gravifloat modular LNG and LPG platform solutions.