"K" Line to Acquire All of Heavy-lift Carrier SAL

"K" Line to Acquire All of Heavy-lift Carrier SAL

"K" Line, which already owns 50 percent of German heavy-lift carrier SAL Group, reached agreement to acquire the remaining 50 percent by the end of June.

The Japanese carrier acquired the first 50 percent of SAL Group in 2007.

"K" Line said Monday it intends to develop the heavy-lift business as a core business and will keep the established trade name of SAL.

Lars Rolner, one of SAL's existing partners, will remain as CEO after he sells his share to "K" Line.

"K" Line said the acquisition will result in a synergy that is in line with its corporate policy to increase the ratio of its non-container business sector.

SAL took delivery of two vessels having the largest lifting capacity in the world of 2,000 tons and equipped with dynamic positioning systems in December 2010 and March 2011.

"K" Line said these new vessels are equally suited to servicing offshore projects within the oil and gas industry and to assisting in the installation of foundations for offshore wind parks.

"By further building up in this field, "K" Line will create a new synergy with offshore support vessel and drill ship business department," "K" Line said in its announcement.

SAL owns and operates a fleet of 16 heavy-lift vessels with lifting capabilities from 600 to 2,000 tons and top speeds of 20 knots.

-- Contact Peter T. Leach at pleach@joc.com.