Cargo Handling's New Force

A bold investment policy by TTS Technology of Bergen has hoisted the Norwegian group into the world's top three equipment suppliers in its specialized market segments. In many minds, the TTS name is synonymous with shipyard production systems and design, which remains an important part of its activities. But diversification and acquisitions since 1997, reaching a new highpoint with the purchase of Hamworthy KSE's dry cargo division and takeover of cranemaker Hydralift Marine at the tail end of last year, has seen the emergence of a powerful new force in the market for shipboard equipment, including total vessel packages. Annual turnover has doubled to approximately $96.3 million as a result of the absorption of Hamworthy KSE and Hydralift Marine, and the group is set fair for income growth.

Headquartered in Gothenburg, the home of the erstwhile Kvaerner Ships' Equipment, the new TTS Dry Cargo Handling Division embraces the former Swedish and German cargo access specialist companies and Chinese joint venture of Hamworthy KSE, along with TTS' existing interests in the field, hitherto vested in TTS-Mongstad. The various cargo access firms have now been retitled TTS Ships Equipment, while the assimilated Shanghai operation has become TTS Hua Hai Ships Equipment.

The Marine Cranes Division has been formed from the existing TTS-Norlift augmented by Hydralift Marine, while the long-established business in shipyard production and heavy load handling equipment as well as recently developed activities in container terminal systems have been vested in TTS Handling Systems

Maritime Reporter Magazine, page 22,  Jun 2002

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.