Cavotec Group and MSL complete merger process

DUBAI — Cavotec Group Holdings NV announced the successful completion of over Dh600 million merger process with Mooring Systems Limited (MSL) to create Cavotec MSL Holdings Limited.

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Published: Sun 11 Mar 2007, 8:39 AM

Last updated: Sat 4 Apr 2015, 10:47 PM

The merged entity will be based in Christchurch, New Zealand, and is listed on the New Zealand Stock Exchange.

Thomas Widegren, Regional Manager and Executive Chairman of Cavotec Middle East, said: "Following the merger, Cavotec Middle East, part of the Cavotec, has gained further momentum to consolidate its already strong operations in the region."

Cavotec Middle East recorded an annual turnover of Dh100 million in 2006 against Dh60 million in 2005 and has set itself a higher target for this year.

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