Marine services specialist Drew Marine has completed its acquisition of Chemring Marine.
Chemring Marine is the world's leading supplier of marine distress signals and has manufacturing sites in Bremerhaven, Germany and Pamplona, Spain. The business will continue to be headquartered in Hampshire, UK and will also have offices in Melbourne, Australia.
Drew Marine's intention to buy Chemring Marine was announced on 6th June, subject to obtaining regulatory approvals and the £32 mill transaction was completed on 31st July.
Chemring Marine will be renamed Drew Marine Signal and Safety. Its corporate headquarters will remain in Havant, Hampshire, UK and all Chemring Marine staff at every site will remain with the company.
Source: Tanker Operator