Gardline confirms sale of Asian GeosCompany News // January 30, 2017
Following what it described as "a strategic realignment of its business" Gardline Marine Sciences Limited (Gardline) has divested its shareholding in Asian Geos Sdn Bhd, which has been acquired by the Indonesian company Java Offshore Sdn. Bhd.
"This divestment will enable Gardline to focus on regional expansion as part of the global delivery of its high specification vessel based geotechnical solutions in both shallow and deep water environments, while ensuring no disruption to Gardline’s global client base," said the company. "Changing trends in the offshore industry made the decision a natural progression for both companies."
"Selling a group company is a difficult process, given the potential impact on our clients and the markets in which we operate," said Paul Stanley, Managing Director, Gardline Marine Sciences Limited. "We believe we have successfully identified an appropriate buyer for Asian Geos Sdn Bhd and we want to thank our clients who have supported the company for so many years. Gardline will continue to maintain and develop its local regional presence to better serve our clients from our vessels in the APAC region."