The Wilhelmsen group has forged a deal to buy the technical solutions business of US-based Drew Marine in a $400m transaction.
The Oslo-listed shipping conglomerate says Drew Marine Technical Solutions will give the earnings of its Wilhelmsen Ships Service a $150m annual boost thanks to operational benefits.
"This acquisition offers a unique opportunity to enhance the scale and geographic reach of our marine products division," said Thomas Wilhelmsen, group CEO at Wilhelmsen.
