K Line to acquire 100% of heavy lifter SAL Group

Kawasaki Kisen Kaisha (K Line) is to acquire the 50% stake it does not already own in heavy lift specialist SAL Group. K Line said it had reached agreement with the joint ventures part to acquire the remaining 50% of SAL by the end of June.


The Japanese shipowner took a 50% stake in Hamburg-headquartered SAL in 2007. “With the current economic rebound, heavy lifter business is considered an essential tool for the development of big projects such as those in the oil and gas industry, which is expected to grow even further,” K Line said. The Japanese said it plans to retain both the SAL trading name and all the current staff.
(Source:http://www.seatrade-asia.com)