TTS Finnish Handling Expansion
Swedens TTS Ships Equipment AB of Gothenburg, part of Norways TTS Marine ASA , has signed an agreement to purchase Finlands Liftec Products Oy of Tammerfors. The company will be renamed TTS Liftec Products Oy .
Liftec Products designs and delivers systems for loading and unloading ships in port, an area in which TTS is expanding. Together with other TTS activities in mobile terminal systems, the business sector is expected to turn over more than NOK100m this year.
During recent years, TTS has cooperated with Liftec in the development of robotic systems, including the Automatic Guided Vehicle (AGV). TTS received contracts worth NOK19m in the last quarter of 2004 for land based cargo handling systems, including mooring systems and shoreside linkspans. Earlier in 2004 TTS acquired ownership of German crane specialists Lubecker Maschinenbau Gesellschaft GmbH and took full control of Shanghai based TTS Hydralift Co Ltd.
MJInformation No: 20225
