Clean Marine, FMSI to Merge
Scrubber manufacturers and suppliers Clean Marine and FMSI have unveiled their intention to merge in order to create a bigger market share in the exhaust gas cleaning system (EGCS) segment.
The combined entity, which will operate under the name Clean Marine, will provide a fully integrated offering, including Original Equipment Manufacturer (OEM) expertise, significant capacity, fast production times, project management and global after-sales services.
Further announcements will be made when the agreement is finalized.
The Merger will better position Clean Marine to fulfill the needs of its customers and meet the rising demand for EGCS following the implementation of the new limits on sulfur emissions that come into effect on January 1, 2020.
Price volatility, large fuel spreads and fuel quality concerns are causing owners who had previously not adopted a strategy for compliance to invest in EGCS. Approximately 490 Clean Marine employees will serve clients around the world from offices in Oslo, Norway; Varna, Bulgaria; Singapore; Houston, USA; and Batam, Indonesia.
“We are very pleased to announce the contemplated merger on the eve of IMO 2020 coming into effect,” said Nils Høy-Petersen, CEO of Clean Marine. “The transaction will provide additional scale to support our global operations and continued investment in developing the best possible product and services for our customers.”
The combined company will be able to deliver higher manufacturing volumes and shorten delivery times further, to shipowners’ benefit. In total, the companies have in order approximately 260 scrubber systems. The combined company will also enhance its R&D efforts to develop further competitive green technologies for shipowners as well as for other industries.
“This is a significant milestone in FMSI’s history, and we are delighted to announce this intention to combine with Clean Marine,” says Nicolas Busch, shareholder and acting CEO of FMSI. “We expect the combined company will achieve a substantial increase in market share and create a strong foundation for pioneering compliant scrubber technology for years to come.”