Trelleborg Acquires CRP
Swedens Trelleborg Group has acquired the Lancashire UK based CRP Group of companies for £ 70m. CRP, whose operations relate primarily to systems for the subsea sector of the oil and gas business, will slot into Trelleborg Engineered Systems within the Trelleborg Group. As a result of the acquisition, oil and gas related operations within Trelleborg are expected to increase to 8% of total Group sales.
SCOPIC was introduced in 1999, following lengthy negotiations between the ISU, the P&I Clubs, shipowners and property insurers. SCOPIC has largely superseded the 1989 Salvage Convention Article 14 Special Compensation provisions, which were found to be unworkable. The Special Compensation provisions were originally introduced to encourage salvors to respond to maritime casualties in low value or high risk situations where a conventional no cure – no pay salvage contract might fail to produce an appropriate reward.
MJ Information No: 21421
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