Marine Electronics Takeover
Rheinmetall AG of Dusseldorf has purchased the 50% stake in EuroMarine Electronics GmbH of Hamburg held by its Brussels-based joint venture partner Zenitel SA (formerly Sait Stento) in a deal subject to approval by relevant European cartel authorities.
Some £350 million in spending on renewables over the next four years will boost efforts to see Britain generating 20% of its electricity from wind, wave and solar power by 2020 enroute to realising the ambitious goal of cutting the nation’s carbon dioxide emissions by 60% by 2050.
As a result, Rheinmetall will assume sole ownership of EMG EuroMarine Electronics, the holding organisation for STN Atlas Marine Electronics of Hamburg and EuroCom Industries of Ballerup in Denmark.
MJ Information No: 18006
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