TRIYARDS confirms acquisition of aluminium construction capabilityYard News // October 21, 2014
TRIYARDS Holdings Limited has added new capabilities, products and clients with its latest acquisition of experienced shipbuilding and fabrication companies, Strategic Marine (S) Pte Ltd and Strategic Marine (V) Co Limited.
Strategic Marine has been building aluminium and steel vessels as well as complex aluminium and steel structures for the marine infrastructure and mining sectors for over 10 years.
Its two yards – one in Vung Tau, Vietnam, and the other in Singapore – with a total area of 158,648m2 will increase the group’s yard capacity by more than 67 per cent (excluding Houston).
Strategic Marine’s Vietnam yard (area: 147,600m2) is also strategically sited close to TRIYARDS’ existing 134,000m2 Vung Tau facility and offers operational synergies and room for growth.
TRIYARDS’ Chief Executive Officer, Chan Eng Yew, said: “Strategic Marine is a good fit for TRIYARDS as we work to build our name in fabrication and engineering solutions and move beyond the construction of oil and gas product lines adding capabilities and products which would target a wider clientele base.
“Besides immediately expanding our product range, we will also have access to the client and market base of Strategic Marine. On top of this, the increased yard space gives us flexibility to grow our ship repair and ship conversion income.”