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, Lamor says in a press release.
“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.