Kongsberg Maritime AS has signed an agreement to sell its underwater technology company Hydroid, Inc. for USD 350 million to Huntington Ingalls Industries (HII), the largest supplier of vessels to the US Navy. The agreement provides that, as of closing, the parties will enter into a strategic alliance agreement concerning underwater technology and maritime solutions.
Fugro is pleased with today’s press release from HC2 Holdings, Inc. (HC2), announcing the sale of Global Marine Group (GMG). Through its ownership of 23.6% in GMG, Fugro will monetize the remainder of its non-core interest in GMG, which is expected to result in proceeds for Fugro of close to USD 40 million.
The Arctic continental shelf is estimated to hold vast deposits of hydrocarbons and rare earth minerals. Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic region. Warming temperatures in the Barents Sea and northern coastline of Russia are giving an added impetus to resource development in this region, according to GlobalData, a leading data and analytics company.
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