Maersk Chief Warns EU Antitrust Policy Benefits China, US
Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview."Is it really a good idea that we don't allow the creation of a European global champion? In doing so, we risk being outperformed by a Chinese company, over which the European Union has no influence," Maersk CEO Soren Skou told Danish business daily Finans.A Maersk spokeswoman confirmed his comments to Reuters.Skou is a member of the European Round Table for Industry (ERT)…
EOLOS Gets Capital Injection
EOLOS Floating Lidar Solutions, a start-up supported by EIT InnoEnergy, has completed a significant capital injection by the entity of the Swiss investment company Prorsum AG.Rajai Aghabi, CEO and founder of EOLOS, describes the capital increase as “a significant closing for EOLOS, allowing the present team the flexibility and capability to both grow and expand globally in the market of turn-key offshore wind data measurement campaigns, not only by strengthening our financial position…
Coldharbour Marine Names Stephen CEO
UK-based in-tank ballast water treatment systems (BWTS) manufacturer Coldharbour Marine said on Monday it has appointed Don Stephen as Chief Executive Officer.With over 30 years blue chip industry experience, Stephen's career spans technical and leadership roles at De Nora Water Technology, Severn Trent Services, GE and Alstom both in the UK and internationally.
Andy Richardson Joins as COO of SimecAtlantis Energy Limited
Simec Atlantis Energy announced that it has appointed Mr. Andy Richardson into the role of Chief Operating Officer at Simec Atlantis Energy.A press release from the global developer, owner and operator of sustainable energy projects with a diversified portfolio of more than 1,000 megawatts in various stages of development said that this will be a non-Board appointment.Andy is a senior figure in the global power generation sector, a Chartered Fellow, having formally held roles…
Clayton To Join Clarkson Board
Clarkson PLC announced that Marie-Louise Clayton will join the Board as a Non-Executive Director with effect from 1 January 2017. She will take over as Chair of the Audit Committee following the Annual General Meeting in May 2017 when James Morley, who has been a Non-Executive Director for nine years, will retire from the Board. Marie-Louise Clayton brings a wealth of financial and strategic experience from a broad range of businesses from technology and manufacturing to sugar processing, power and energy.
Tissot Appointed VP & CFO, Bureau Veritas
Bureau Veritas announces the appointment of Nicolas Tissot as Executive Vice-President and Chief Financial Officer. He replaces Sami Badarani, who has decided to leave the company to pursue new professional opportunities. Nicolas Tissot has solid management and finance experience gained in key roles within international groups. Before joining Bureau Veritas, he was Chief Operating Officer (COO) and Executive Committee member of SCOR. He previously held various roles, including finance director positions at Alstom and ENGIE (GDF Suez).
Atlantis Chief Joins Ocean Energy
Tim Cornelius, CEO of global tidal developer Atlantis Resources has taken a seat on the Board of Directors of Ocean Energy Europe – the industry group for ocean renewable energy – by becoming a Lead Sponsor of the organisation. The move reflects Atlantis’ position as a leading developer of commercial tidal power projects and underpins its commitment to driving the market for ocean renewable energy. Following its acquisition of pioneering tidal company Marine Current Turbines earlier this year…
Reimelt Named Head of GE Power Conversion
Stephan Reimelt has been appointed as president and CEO of GE’s Power Conversion business, succeeding Joe Mastrangelo who becomes president and CEO of Power Generation Products for GE Power & Water, GE Energy Management president and CEO Mark Begor announced today. Power Conversion is at the heart of generating cleaner and more efficient power for multiple industries. Ge said it is a growing business, operating in 160 locations worldwide, with more than 7,000 employees. Under Mastrangelo’s leadership the backlog grew more than 70 percent in four years to reach $3.5 billion…
ABB Tops list of Patent Applications
Zurich, Switzerland, February 26, 2015 – ABB, the leading power and automation technology group, registered more patent applications with the European Patent Office (EPO) than any other Swiss-based company in 2014. Switzerland remains top of the world rankings for the number of patents filed per million inhabitants. ABB filed 450 patent applications with the EPO last year, followed by Nestlé, Alstom, Roche and Novartis, reflecting its strong track record in technological innovation.
Ocean Energy Board Names Stevenson President
Ocean Energy Europe’s board of directors has elected Rob Stevenson as its new president. His appointment follows the election of six new directors on Ocean Energy Europe’s board. Stevenson is Vice President of Alstom’s Ocean Energy Business, having moved in 2013 from his position as Vice President of Rolls-Royce Power Ventures and CEO of Tidal Generation Ltd. He has over 35 years’ international management experience of the power generation sector across a wide variety of fuel…
Germany's Bilfinger Cuts Costs after CEO Exit
Q2 group adjusted EBITA 65 mln euros vs 93 mln last year. Power division EBITA drops to 9 mln euros; shares up 4.9 pct, top performer on MDAX. German industrial services group Bilfinger, whose chief executive resigned last week after two profit warnings, said cost cuts in the second half of the year should help cushion an expected fall in annual profit. Bilfinger on Monday reported a 30 percent drop in second-quarter earnings before interest, tax and amortisation (EBITA), adjusted for one-time items to 65 million euros ($87 million), due to weak demand in the energy market.
France Gets EU Backing for Takeover Decree
France has received EU backing for a new decree allowing the government to block foreign takeovers of French companies in strategic industries, Economy Minister Arnaud Montebourg said on Thursday. In a surprise move, the government widened in May its control over mergers in industries deemed key to France's national interests as General Electric was seeking to buy the energy assets of French group Alstom. "The European Commission in recent days notified the French government of its approval of the decree as perfectly in line with European treaties," Montebourg said in a speech.
China M&A Rulings Create Hot Competition for Antitrust Lawyers
China's increasing regulatory influence over international mergers and acquisitions has helped to create the hottest new commodity in its legal industry: anti-trust lawyers. Six years ago, China did not even have a legal system for regulating the impact of M&A on competition. Today, its Ministry of Commerce is the biggest wildcard for dealmakers trying to get a major cross-border deal past anti-trust regulators. The ministry's decision last month to reject Danish shipping group A.P.
France Picks: GE is the One for Alstom
France chose General Electric to form an alliance with Alstom on Friday - rejecting an offer from Siemens and Mitsubishi Heavy Industries - but said the deal still needed some work and added it would buy a 20 percent stake in the hotly-contested company. Economy Minister Arnaud Montebourg said he had used a newly- created state decree to reject both of the existing offers as not being in France's strategic interest, and had formulated fresh demands to GE Chief Executive Jeff Immelt.
GE CEO Immelt: Expects to Close Alstom Deal
General Electric Co Chief Executive Jeff Immelt said on Wednesday that GE is still going to "work constructively" with the French government on its bid for the power business of Alstom and that he expects the deal to close. GE has encountered resistance to its $16.9 billion proposal from the government, which has sought to encourage Germany's Siemens as a potential rival bidder. "It's a deal that's executable. It's a deal we're experienced in. It's a deal we expect to close," Immelt said at the Electrical Products Group conference.
Siemens Weighs In As GE Prepares Alstom Power Deal
Alstom's arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric boss Jeff Immelt is due in Paris to thrash out a deal to buy Alstom's global power arm. Siemens said in a statement that it had written a letter to "signal its willingness to discuss future strategic opportunities" with the French group. France's government has said it wants to find alternatives to the GE offer, which sources say puts a value of $13 billion on the turbines and power grid equipment business and could be announced in days.
Buyout Groups Bid for GEA Heat Exchangers Unit
Two buyout groups have made final offers for the heat exchangers division of German industrial machinery and process engineering group GEA , one of which could be picked for exclusive talks within days, three people familiar with the matter said. EQT, which is working with industrial services group Bilfinger, and private equity investor Triton handed in bids valuing the unit at about 1.2-1.3 billion euros ($1.65-$1.8 billion) by a Friday deadline, the people said. "However, the…
GE Upgrades Royal Fleet Auxiliary’s Fleet Tankers
GE’s Power Conversion (NYSE: GE) business has started fitting the latest generation of Integrated Platform Management System (IPMS) to the Royal Fleet Auxiliary (RFA) ships Wave Knight and Wave Ruler. The technology is designed extend the life and versatility of the IPMS fitted to the two ships, helping the RFA to maintain at-sea supply capabilities in supporting the Royal Navy’s global maritime operations. The IPMS includes machinery control and surveillance, damage surveillance and control, electrical power control and management and Replenishment at Sea (RAS) functions.
Rolls-Royce to Sell Tidal Generation Ltd to Alstom
The sale is expected to complete within the next few months, subject to closing conditions. About Tidal Generation Ltd. 1. Rolls-Royce will sell TGL to Alstom UK Holdings Ltd, a wholly owned subsidiary of Alstom. 2. TGL is a wholly owned subsidiary of Rolls-Royce Holdings plc that is managed and reported in the Energy business segment. 3. In September 2010 TGL’s 500kWe tidal stream turbine concept demonstrator unit was deployed at the European Marine Energy Centre’s (EMEC) offshore test site…
Tidal Energy Leaders to Collaborate
CEOs of the world’s leading tidal device developers to meet & collaborate at upcoming summit. CEOs from Atlantis Resources Corporation, Andritz Hydro Hammerfest, Marine Current Turbines, Tidal Generation (Rolls Royce) and Voith Hydro Ocean Current Technologies have again committed in 2012 to help push forward the tidal energy industry by continued collaboration and information sharing. They will be joined for the first time by Christopher Sauer, the President and CEO of the USA’s Ocean Renewable Power Company.
Transocean Appoints Rob Shaw
Transocean Ltd. has appointed Rob Shaw to serve as Vice President, Controller and Principal Accounting Officer, effective December 1, 2011. Until Shaw assumes this position, Robert L. Herrin, Jr. will serve as interim Vice President and Controller and Ricardo H. Rosa, the company’s Senior Vice President and Chief Financial Officer, will serve as interim Principal Accounting Officer. Herrin has served as the company’s Vice President of Internal Audit since 2007, but will not act in that capacity during the period that he serves as interim Vice President and Controller.
MPro Profile: Brian Pope, L-3 Communications/Marine & Power Systems Group
If Brian Pope is not the obvious choice to be Maritime Professional magazine’s first ever featured maritime professional, then perhaps the notion of who and what we consider to be important on the waterfront should be rethought. As a perfect example, Pope’s influence on electrical propulsion and the development of electrical systems afloat has been nothing short of profound. And, while the typical ship’s engineer might not know his name, Pope’s work will likely impact how ships move through the water for generations to come.
Rob Shaw Named Vice President, Controller and Principal Accounting Officer
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced today that Rob Shaw has been appointed to serve as Vice President, Controller and Principal Accounting Officer, effective December 1, 2011. Until Mr. Shaw assumes this position, Robert L. Herrin, Jr. will serve as interim Vice President and Controller and Ricardo H. Rosa, the company’s Senior Vice President and Chief Financial Officer, will serve as interim Principal Accounting Officer. Mr. Herrin has served as the company’s Vice President of Internal Audit since 2007…