Page 8: of Maritime Reporter Magazine (July 2018)

Let’s Make a Deal

The Largest

Maritime Social

Media Network in

TRENDING the World.

Kongsberg CEO Geir

Håøy (right) and Tristan

Halford-Maw, Deputy

Director, Rolls-Royce.

John Whalen/HII

Kongsberg Buys Rolls-Royce Commercial Marine

Earlier this year Roll-Royce signaled its ucts, systems and aftermarket services abyss, with many executives seeing the intent to shed its commercial marine businesses carried out by subsidiaries proverbial ‘light at the end of the tun- business, and as the July edition of of Rolls-Royce plc. The transaction does nel,’ pegging 2019/20 as the start of

Maritime Reporter & Engineering News not include Bergen Engines nor Rolls- the rally up for the coming ? ve years. was going to press the deal was done Royce’s Naval Business. “The maritime industry has over the last when Norwegian giant Kongsberg The deal is signi? cant on a number of years experienced demanding market stepped up and announced the deal to fronts, particularly in regards to the conditions and even though there is still buy Rolls-Royce Commercial Marine. consolidation of smaller players into uncertainty we expect the market to be

The deal, pending clearance by larger, more powerful organizations that facing growth with technology and inno- regulatory authorities, is expected to are able to provide a more complete vation being key drivers,” said Eivind Re- be completed in the ? rst quarter of offering, particularly in tying together iten, Chair of the Board, KONGSBERG. 2019, and while a ? nal sale price is traditional hardware with emerging “For more than 200 years KONGSBERG not yet announced, the stated value of data-driven products and applications. has been a pioneer for high technology the Rolls-Royce Commercial Marine to But perhaps even more so, the deal is a industrial development with a long term be sold at just under $662 million. The signal to the commercial marine indus- perspective. The acquisition of Rolls- transaction is structured as an acquisi- try at large that the prolonged, global Royce Commercial Marine is in line with tion by KONGSBERG of the marine prod- slump in maritime is at or just above the our growth ambitions.”

Photo of the Month

Headed out to Sea

Cap San Antonio is passing a river at night on the way to the open sea.

Herbert Boettcher took this photo for Ham- burg Süd when he travelled on the container ship Cap San Antonio from Europe to South

America and back to Hamburg. Boettcher started with his worldwide long time project

Seamotion in 2004. Boettcher is a German professional photographer working world- wide for shipping companies to create pho- tos of merchant ships with his unique visual language. He has been working as a gradu- ate designer for more than 20 years and has already received numerous awards for his applied and free photographic work.

Visit his website: www.HerbertBoettcher.com

Contact him at: [email protected] © Herbert Boettcher 2018 8 Maritime Reporter & Engineering News • JULY 2018

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