Mermaid Marine Australia completes acquisition of Jaya Holdings subsidiariesCompany News // June 6, 2014
Mermaid Marine Australia Limited has completed the acquisition of all the subsidiaries of Jaya Holdings Limited.
The acquisition adds 27 offshore vessels to MMA's fleet as well as two strategically
located onshore facilities in Singapore and Batam, Indonesia.
In line with MMA's five year strategy, the acquisition expands the company's geographic reach; provides immediate scale in the Southeast Asian, African and Middle Eastern markets; and increases its exposure to high specification vessel classes (including six high spec newbuilds currently under construction).
In cooperation with Jaya's management and staff, MMA has developed a detailed integration plan to swiftly and effectively integrate Jaya's operations with its own.
MMA Managing Director, Jeff Weber said: "The Jaya acquisition represents the realisation of a number of the strategic goals we set for ourselves as a company in 2011/2012. It is with great excitement and confidence that we start this new phase in MMA's development as an international offshore oil and gas service provider."