Trelleborg has, through its business area Trelleborg Offshore & Construction, signed an agreement and finalized the acquisition of Sea Systems Technology Ltd. (“SeaTechnik”). SeaTechnik is a market-leading company predominantly specialized in the development of software and manufacture of emergency shutdown systems and other communications systems used when carriers transporting liquefied natural gas (LNG) berth at terminals.
SeaTechnik’s head office is in the U.K. and it operates market offices in South Korea and Singapore. Annual sales 2012 are estimated to approximately SEK 55 M. The acquisition is part of Trelleborg’s strategy to strengthen positions in attractive and profitable market segments and enables the Group to broaden its product portfolio of berthing, docking and mooring solutions for harbors and ships.
“The acquired business is rapidly growing and showing good profitability. It strengthens our position in the strategically critical and growing market for LNG transportation. SeaTechnik’s software is already installed in a large number of carriers and terminals that handle LNG and, quite often, in combination with our existing products and solutions. As a result of this transaction, we will be able to offer an attractive turnkey solution for owners of vessels and harbors,” says Fredrik Meuller, Business Area President, Trelleborg Offshore & Construction.
In addition to developing software and manufacturing emergency shutdown and other communication systems for the safe handling of LNG in connection with carrier berthing, the acquired company has a relatively small but growing share of products and solutions that monitor and manage engine fuel supply in ships, the aim of which is to significantly reduce both emissions and fuel costs. Synergies and efficiencies are expected to be generated on integration of the acquired company into Trelleborg’s structure.