Singaporean shipbuilder Sembcorp Marine is set to acquire 100% equity stake in Norway-headquartered LMG Marin for US$20 million.
LMG is a naval architecture as well as ship design and engineering house with offices in Poland and France.
Its design and engineering portfolio includes drill ships, floating production, storage and offloading vessels (FPSO), floating storage and offloading vessels (FSO), offshore support vessels (OSV), liquefied natural gas carriers (LNG) carriers, LNG-powered ships, car ferries, and cruise ships.
LMG originated several key designs adopted by Sembcorp Marine such as the next-generation Espadon drillship design; the FSO design used in the ongoing construction of the company’s new build FSO for deployment in the UK North Sea; as well as the Gravifloat modular LNG platform solutions, floating LNG and land-based terminals.
The Robusto FPSO hull design, customized for operation in Brazil and West Africa, is another LMG creation.
Following the acquisition, LMG becomes an indirect wholly-owned subsidiary of Sembcorp Marine.