rss icon Subscribe
desktop mobile

Yara Mulls Sale of Its Marine Scrubbers Business

Svein Tore Holsether (Photo: Fotograf Ole Walter Jacobsen / Yara)

By Eric Haun

Norwegian industrial chemical corporation Yara International said it is evaluating options for its Yara Marine Technologies (YMT) business, including a potential sale.

Yara formed YMT after acquiring Green Tech Marine in 2014. The top three scrubber supplier expects its 2019 sales will more than double from 2018's predicted NOK 700 million, as ship owners and operators prepare for new ship emissions regulations due to enter force in 2020.

Svein Tore Holsether, President and Chief Executive Officer of Yara International ASA, said, "Entering the next growth phase for YMT, it is natural to consider whether a new ownership structure may be the best way forward both for Yara and YMT.

"Yara has a long history of adjusting its portfolio when the conditions are right, most recently with the divestments of GrowHow UK in 2015 and the CO2 business in 2016. We will continue to evaluate both acquisition and divestment opportunities based on their value creation potential."

The company said it is evaluating different options, but emphasized it has not made any decisions regarding future ownership of YMT. Yara said the YMT business is performing strongly, and will continue to operate and invest according to its current plans.

Oct 1, 2018

 QRCode for link to Yara Mulls Sale of Its Marine Scrubbers Business story
 

Technology

MN100: The Best 100 firms in the Brown Water Sector

Image Credit: Maritime Reporter and Eric Norcross

Is your company a Top 100 performer? The application period for this year’s MN100 edition is

Pure Safety Group's 'Checkmate' TR3 Tripod

Photo: Pure Safety Group

Pure Safety Group (PSG), a company dedicated solely to fall protection, has introduced the

Marine Corrosion: AI & Corrosion Detection

Photo courtesy of ABS

ABS, Google Cloud and SoftServe completed a pilot project applying artificial intelligence (AI)

Marine Equipment

AAL Delivers Four New Cranes for Felixstowe

Image: AAL Shipping

The global ocean transport operator AAL Shipping has successfully delivered a cargo of four

Port of Everett Facelifts South Terminal

South Terminal. Image: Port of Everett

Foss Maritime departed the Port of Everett enroute to the Port of Los Angeles to pick up two

MN100: The Best 100 firms in the Brown Water Sector

Is your company a Top 100 performer? The application period for this year’s MN100 edition is officially open and underway! Only those who apply can be considered for inclusion.