Aalborg Industries opens a new business
MARITIME INDUSTRY: Aalborg Industries expands with a new line of business - water handling in ballast tanks. Together with its new German partner Aquaworx, Aalborg Industries will produce certified water handling equipment.
On the 30th of April, Aalborg Industries and Aquaworx signed a deal to establish a new joint venture company for the development and global marketing of new systems for cleaning ballast water.
The German stock registered company PlasmaSelect owns Aquaworx. Aquaworx has a well functioning and patented technology, which so far has been used for cleaning water at land-based installations.
With Aalborg Industries as their partner, water treatment systems from Aquaworx will undergo further development to suit their new maritime purpose, and be marketed and produced in close collaboration with the entire Aalborg Industries concern.
It is agreed upon that Aalborg Industries, as the main shareholder will own 60 per cent of the new company and Aquaworks 40 percent. The present product technology, including IMO approval and patent rights, will be transferred to the newly established company as a joined ownership. The company is being established in Singapore and the share capital will come to approx. ? 10 million.
Cleaning of ballast water is a future demand to avoid the biological imbalance which is created when 12 billion tons of seawater is moved about on the oceans by the large ships.
The global market potential in the years up to 2020 is expected to be quite significant and be in the area of three-figure billions. The implementation speed will depend on the international ratification pace in relation to the already agreed upon IMO regulations.
Source: maritimedanmark.dk
