Through its subsidiary company TTS Port Equipment AB (TTS) in Gothenburg, TTS Marine ASA has entered into an agreement regarding acquisition of Marine Development Ltd. The agreement is based on TTS taking over the company’s technology for port equipment (asset purchase).
Marine Development Ltd is known to be one of the most innovative companies supplying solutions for the ship-to-shore interface. The company, established in 1972, has a long list of references for the delivery of link-span and passenger gangways. Link-span is a special purpose ramp between quay and RoRo vessel.
As part of the agreement, John Rose, former owner of Marine Development Ltd., will be associated to TTS on a consultancy basis. The agreement regarding purchase of terminology technology will further strengthen TTS’ position as a leading supplier of ship-to-shore interface solutions.
Bergen, 12 March 2007
Contact persons:
Johannes D. Neteland President and CEO Tel.: +47 918 46 906
Olav Bruåsdal Financial Director Tel.: +47 915 61 152
TTS Marine ASA
Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01
