Drydocks World acquires Singapore-owned shipyards in Indonesia
The dry dock operating subsidiary of Dubai Ports World said Monday it has made a $1.63 billion offer for Labroy Marine Ltd. of Singapore.
Drydocks World, a sister company of terminal operator DP World, said the acquisition would cement its position among global shipbuilding and repair companies, and would also allow it to enter the rig-building market.
'The core strengths of Labroy are similar to those of Drydocks World, being ship repair, ship building and conversions,' the company said in a statement. 'In addition Labroy is also engaged in construction of offshore rigs for use in the global oil and gas industry.'
Labroy operates two shipyards in Indonesia and has its own fleet of vessels.
Drydocks World acquires Singapore-owned shipyards in Indonesia
