Neptun Ship Design Gets New Owner
- Business & Finance
The German MV WERFTEN has begun the acquisition of Neptun Ship Design as an independent subsidiary with an aim to expand its design capacities.
The purchase agreement was signed on 16 January and will become effective after the cartel authorities grant approval.
According to MV WERFTEN, the acquisition will increase its workforce by 120 experts and the new engineers and designers will be mainly working on the basic design of new ship projects, with highly complex vessels now developed and designed together in the expanded team.
The details about the structure of the transaction and the purchase price have not been disclosed.
“The acquisition also, of course, takes into consideration the handling of current orders and the continuation of our research and ship development projects so that we maintain our traditions and our spirit of innovation. That we’ll now be doing this under a new roof and with direct participation in the mega projects is a real boost to our motivation,” said Stephan Merkel, Managing Director at Neptun Ship Design.
To remind, Neptun Ship Design recently secured an Approval in Principal (AIP) by ABS for its Wind Turbine Transport Vessel design, said to be the first to support transporting parts for turbines greater than 9MW.
The vessel is designed to pick up components directly from a supplier’s berth, transport parts to an offshore harbor, or feed them to an installation vessel.