Through its company TTS Kocks GmbH, TTS Marine ASA’s Deck Machinery division has acquired the co-partner’s 50% ownership in the joint venture company TTS Kocks GmbH Korea Co, based in Pusan.
TTS Kocks GmbH Korea Co. is an exclusive sub supplier for the Deck Machinery division, assembling and manufacturing anchor- and mooring winches for markets in South Korea and other Asian countries. Since the company is an exclusive supplier, the take-over will have minor effect on TTS Group accounts.
Taking over 100% of TTS Kocks GmbH Korea Co, enables TTS to further develop operations in South Korea which is a market of great importance to TTS, as well as in other Asian markets.
Bergen 13.03.2007
Contact persons:
Johannes D. Neteland President & CEO Tel +47 918 46 906
Olav Bruåsdal CFO Tel +47 915 61 152
TTS Marine ASA
Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01
