Sembcorp Marine acquires Norwegian naval architect

LMG ‘s extensive design and engineering portfolio spans floating structures, platforms and a wide variety of ship types, such as drillships, storage and offloading vessels (FSO), offshore support vessels (OSV) and LNG carriers.

“Through the strategic acquisition of LMG, Sembcorp Marine further strengthens its intellectual property and knowledge to execute leading-edge design and engineering solutions for the global offshore and marine sectors,” said Sembcorp Marine President and CEO, Wong Weng Sun.

“This in turn supports our ongoing efforts to move up the value chain so that we can compete better and do more for our customers and partners.”

Following the acquisition, LMG becomes an indirect wholly-owned subsidiary of Sembcorp Marine. It brings into the company a cache of design patents and expertise in naval architectural design, engineering and technology development.

LMG originated several key designs adopted by Sembcorp Marine, including the next-generation Espadon drillship design, the FSO design used in the ongoing construction of the company’s newbuild FSO for deployment in the UK North Sea.

It will also add the Gravifloat modular LNG and LPG platform solutions to the company’s portfolio, as well as the Robusto FPSO hull design, customised for operation in Brazil and West Africa.

The acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the Company for the year ending 31 December 2016.