Sembcorp Marine to acquire all of SSP Offshore’s business assets

More products in the offing.

Sembcorp Marine is into diversification nowadays, adding another market segment into its portfolio.

A report by OSK-MDG reveals that Sembcorp Marine's wholly owned subsidiary Jurong Shipyard Pte Ltd has signed a sales and purchase agreement with SSP Offshore to acquire substantially all it business assets for USD21m.
SSP Offshore business includes design, engineering and delivery of floating production and drilling solutions for the oil & gas industry.

With this acquisition, Sembcorp Marine is able to expand its product offerings and
enter into new markets segments. OSK-DMG expects to see margins improving over the next few quarters and deliver earnings growth in FY14F/FY15F.