Norway’s IMS Group has come to the rescue of OceanSaver the ballast water treatment system maker that filed for bankruptcy earlier this month. On 20 September IMS group signed a purchase agreement with the OceanSaver Trustee to acquire all intellectual property, certificates and assets. The IMO’s decision to effectively delay implementation of the ballast convention was blamed by the management of OceanSaver as being the cause of its financial problems although the company had recently lost a long legal case with Boll Filter that may have also been a reason. OceanSaver has sold approximately 200 ballast water treatment systems and is the first electro chlorination maker in the world to achieve US Coast Guard Type-Approval. “We think it is of significant added value for customers that the ballast water treatment product range is integrated into an already profitable and sustainable business with several maritime products. We would therefore not be dependent on a steady market, but will be able to adjust quickly, both with production capacity and personnel”, said Roy Langseth, CEO of the IMS group. The product will be sold and manufactured at TeamTec, which is a company in the IMS group. Elsewhere in the ballast water market, Japanese chemical company Kuraray which has two electrochemical treatment systems under the name Microfade has agreed to acquire the US-based Calgon Carbon Corporation for $1.3Bn. Calgon Carbon is the parent company of Hyde Marine which produces a UV ballast water treatment system. No announcements have yet been made as to the impact on the production of either the Microfade or the Hyde Guardian Gold systems.
Ballast buy outs
2 days ago