4 April 2018
Press release: Lamor Corporation and Meritaito agree on an asset acquisition
Meritaito Ltd. and Lamor Corporation Ab have concluded an agreement whereby Lamor will acquire Meritaito’s oil spill response equipment operations marketed under the brand name SeaHow.
“We have worked well together in the oil spill response field, and this acquisition will strengthen and open up further new possibilities. Through this acquisition, we strengthen our product portfolio in terms of shallow water oil spill response. Meritaito’s products are of high-quality and have excellent customer references. Through Lamor’s sales network, these products can now be introduced into international markets”, says Fred Larsen, President and CEO of Lamor Corporation.
“By using Meritaito’s updated strategy, we can now focus on developing basic business operations and broadening our operations within these services. The asset acquisition concerns the manufacturing of oil spill response equipment and we will continue providing our oil spill response services as before”, says Meritaito’s CEO Hannu Ylärinne.
“The new generation of oil recovery equipment developed by Meritaito has demonstrated functionality in extremely challenging environmental conditions. The equipment supports Lamor’s strong product family very well. It’s great that Finland has a world-class oil spill response equipment manufacturer who supports worldwide sales success of well-proven equipment”, says Ylärinne.
The acquisition will not affect the companies’ employees.
Lamor (Larsen Marine Oil Recovery) Corporation Ab offers solutions for oil spill preparedness, response and recovery, and soil remediation. Over the past three decades, Lamor has developed, produced and supplied the most advanced oil spill response technology on a global scale. Lamor has over 150 employees primarily in Finland, China and Ecuador, with additional branches of the company operating in Brazil, the UK, Columbia, Mexico, Oman, Peru, Turkey, Ukraine, the US, and Russia. Lamor’s continuing development work and its strengthened market position have led to expanding the company’s service operations beyond the traditional core oil spill response operations to include e.g. soil remediation, drilling waste management, oil pipeline monitoring and industrial water treatment services.
Meritaito Ltd. produces high-quality services and intelligent solutions that promote the sustainable use of water resources. Meritaito’s supply of services includes a comprehensive range of fairway maintenance and hydrographic surveying services designed to promote efficiency and environmental safety in water transport. We specialise in the design and maintenance of waterways, canal use and maintenance, hydrographic surveying, oil spill response, hydraulic engineering and the manufacture of buoys and polyethylene navigation aids. For more information, visit www.meritaito.fi.
For further information, please contact:
Juha Muhonen, Vice President, Lamor Corporation Ab, email@example.com, tel: +358 40 767 4442, www.lamor.com
Hannu Ylärinne, CEO, Meritaito Ltd., firstname.lastname@example.org, tel: +358 400 435 638
Thomas Erlund, Senior Vice President, email@example.com, tel: +358 40 829 9877, www.meritaito.fi