April 1977 - Maritime Reporter and Engineering News

Amtel, Inc. To Acquire Major Interest In Orba

Jerome Ottmar, president of Amtel, Inc., recently announced an agreement in principle to acquire 80 percent of Orba Corporation, an engineering and construction firm operating in the field of bulk material handling systems, which is located in Fairfield, N.J. The company was founded in 1972 by three of its executive officers, with financial support from Narragansett Capital Corporation.

Orba's three executive officers will retain 20 percent of Orba stock and operate Orba as a subsidiary of Amtel, Inc.

Orba designs, develops, constructs, and operates systems and facilities for mining, transporting and handling of dry bulk materials such as coal, ores, chemicals, etc.

Mr. Ottmar said the acquisition of Orba and its material handling expertise complements Amtel, Inc.'s activities at IMODCO and Litwin. IMODCO is a developer of Single Point Mooring (SPM) terminal systems used for mooring bulk carriers while loading and unloading various liquid cargoes.

IMODCO terminal systems can also be used for loading and unloading solids in slurry form. Litwin is a process engineering and construction firm. Orba will provide Amtel, Inc. with an extended energy related engineering capability.

Amtel, Inc., 40 Westminster Street, Providence, R.I. 02903, is a diversified firm engaged in the manufacture and sale of a variety of industrial and consumer products; the design and construction of refineries, other process plants, and offshore terminals; and the distribution of refined petroleum products.

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