Vakaru Laivu Gamykla (Western Shipyard, or VLG), a Lithuanian shipbuilding and repairing group controlled by Estonia’s BLRT Grupp, has purchased Norway’s engineering project management company Marine Technology for an undisclosed amount of money, informs LETA/BNS.
The Norwegian company, which manages oil and gas production and renewable energy equipment manufacturing projects and supplies equipment for the transportation of high-voltage off-shore cables, last year posted 13 million euros in revenue.
Klaipeda-based VLG saw its consolidated net profits fall by 9.7% in 2016 from 2015 to 10.9 million euros as consolidated revenue edged down by 0.5% to 95.3 million euros.
