Odense Steel Shipyard sells Balti ES Ltd. to Cargotec
May 31, 2007
Odense Steel Shipyard Ltd. has sold Balti ES Ltd., a manufacturer of metal components based in Narva, Estonia, to Finland's Cargotec Corp. The final company transfer is expected to take place by the end of July 2007.
Offshore staff
DENMARK -- Odense Steel Shipyard Ltd. has sold Balti ES Ltd., a manufacturer of metal components based in Narva, Estonia, to Finland's Cargotec Corp. The final company transfer is expected to take place by the end of July 2007.
The closure of Maersk Container Industries' production facilities in Tinglev, Denmark, reduced the strategic importance of Balti ES for the Odense Steel Shipyard Group, the company says. Balti ES functions as a separate unit and today sells most of its production capacity to companies outside the A.P. Moller-Maersk group.
The parties have agreed not to disclose the purchase price.
