VLG shipyard buys Norway's Marine Technology
2017-12-03, 10:26
Published in
Society
kam.lt
Vakaru Laivu Gamykla (Western Shipyard, or VLG), a Lithuanian shipbuilding and repairing group controlled by Estonia's BLRT Grupp, has purchased Norway's engineering project management company Marine Technology for an undisclosed amount of money. The Norwegian company, which manages oil and gas production and renewable energy equipment manufacturing projects and supplies equipment for the transportation of high-voltage off-shore cables, last year posted 13 million euros in revenue. Klaipeda-based VLG saw its consolidated net profits fall by 9.7% in 2016 from 2015 to 10.9 million euros as consolidated revenue edged down by 0.5% to 95.3 million euros.
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