Civmec Completes Acquisition of Shipbuilder Luerssen Australia For A$20 Mil
Edge
Jul 01
Civmec Limited has completed the acquisition of all the shares in shipbuilder Luerssen Australia, for A$20 million ($16.74 million).
Civmec says that this acquisition strengthens its role in Australia’s naval shipbuilding sector by bringing Luerssen’s operations, workforce and assets under full local ownership.
The acquisition was funded from Civmec’s existing cash reserves. Luerssen Australia is involved in the works of naval shipbuilding, mature engineering and training systems.
Shares in Civmec closed 1.5 cents higher or 1.685% up at 90.5 cents on July 1.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.