Seatrium has successfully completed the divestment of its AmFELS yard located in Brownsville, Texas, to Karpower Valley, a related party of Karpowership. This strategic move aims to enhance capital and operational efficiencies while unlocking value from one of Seatrium's surplus facilities. 7 million (S$65 million) at the time of agreement.
All projects carried out at the AmFELS yard have been completed and delivered prior to completion, allowing for a seamless transition. S. to focus on engineering innovation and technology capabilities through its technology centers and offices in Houston, Texas, and service center in Vicksburg, Mississippi.
This shift will support the evolving needs of its customers. The divestment marks an important milestone for Seatrium as it continues to optimize its operations and drive growth. With this move, Seatrium is poised to capitalize on new opportunities and strengthen its position in the market.
The sale also underscores the company's commitment to adapting to changing market conditions and prioritizing strategic initiatives. By divesting the AmFELS yard, Seatrium is able to focus on its core strengths and drive long-term value creation. The asset sale will enable Seatrium to allocate resources more efficiently and make strategic investments in its technology capabilities.
This move is expected to have a positive impact on the company's bottom line and overall performance. As Seatrium continues to navigate the evolving landscape, this divestment demonstrates the company's ability to adapt and thrive in response to changing market conditions.