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

Water Backed Welding & Fixing FPSOs

Photo: Marine Technical Limits (MTL)

Although MTL has a robust oil and gas heritage, with formidable experience in the global energy

Kalmar Announces Center for Technological Innovation in Sweden

Pic: Kalmar

Kalmar, part of Cargotec, has officially inaugurated its new Innovation Centre in Ljungby

Poynting Releases Its Latest LTE Antennas

Photo: Poynting

Poynting has recently released their latest Cellular LTE/5G Ready omni-directional antennas that

Marine Equipment

Water Backed Welding & Fixing FPSOs

Although MTL has a robust oil and gas heritage, with formidable experience in the global energy marketplace, it also invests heavily in R&D and undertake rigorous testing and

Scorpio Tankers' EGSS Order Goes to Pacific Green

Aerial view of the scrubber being fitted into place. ENVI-Marine. Pic: Pacific Green Technologies

Pacific Green Marine Technologies (PGMT) will manufacture its  ENVI-Marine Exhaust Gas Scrubbing

Kalmar Announces Center for Technological Innovation in Sweden

Kalmar, part of Cargotec, has officially inaugurated its new Innovation Centre in Ljungby, southern Sweden.Approximately 200 people will be based at the state of the art facility