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Oil Recovery Specialists Unite
01 Sep 2002
Lamor Corporation Ab, the Finnish manufacturer of oil recovery systems, has bought the whole scope of business of its Finnish competitor LMP Patents Ltd Oy, including 150 patents. The acquisition brings to an end patent disputes between the companies which have gone on for years, hampering the marketing of both.
According to the agreement between Lamor and LMP Patents, LMP subsidiary Lovmet Oy becomes Lamor's subcontractor as an engineering workshop. Lovement will invest the revenues from the sale of LMP into developing production. LMP's own network of subcontractors specialised in the production of oil recovery equipment will support Lamor's production. LMP Patent's LORI oil recovery equipment has recently been placed on the new multi-role vessel for Harwich Haven Authority.
MJInformation No: 17404
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