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Sembcorp Marine of Singapore buys LMG Marin from Norway for $20m

Staff Writer |
Singapore’s Sembcorp Marine said its wholly-owned subsidiary, Sembcorp Marine Integrated Yard (SMIY), will buy Norway’s naval architecture and ship design and engineering firm LMG Marin for $20 million.

LMG, a Bergen-based company with offices in Poland and France, has an extensive design and engineering portfolio covering floating structures, platforms and a wide variety of ship types.

This is including drillships, floating production, storage and offloading vessels (FPSO), floating storage and offloading vessels (FSO), offshore support vessels (OSV), liquefied natural gas (LNG) carriers, LNG-powered ships, car ferries and cruise ships.

Sembcorp Marine had adopted several LMG-originated key designs for its projects, including the next-generation Espadon drillship design; the FSO design used in the ongoing construction of the firm’s newbuild FSO for deployment in the UK North Sea and the Gravifloat modular LNG and LPG platform solutions – which are a cost-competitive alternative to FSRU, FLNG and land-based terminals.

The Singapore firm will pay for the acquisition in cash, using internally generated funds. The acquisition will provide Sembcorp Marine a cache of design patents and expertise in naval architectural design, engineering and technology development.

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