PALFINGER intends to make a takeover bid for Norwegian TTS Group ASA
• PALFINGER is offering NOK 5.60 in cash for one TTS share in the event of a positive due diligence outcome
• 100 per cent acquisition planned
• The Board of Directors of TTS recommends acceptance of the intended offer
• Closing of transaction possible in three to six months
• Marine business would become the PALFINGER Group’s strong second mainstay
Strengthened operating profit and stable order intake for TTS in Q1
The TTS Group reported an operating profit before interest, taxes and depreciation (EBITDA) of MNOK 26 for the first quarter of 2016, compared to a zero result for the same period last year. For this quarter the Group reported a profit before tax of MNOK 10.
Toril Eidesvik new CEO of TTS Group ASA
Toril Eidesvik (48) has been appointed as new CEO of TTS Group ASA after Björn Andersson (69). She enters the position immediately and resigns as Director of the Board of the company.
TTS to deliver a second Linkspan to Stena Europoort
Stena Line has awarded TTS Marine AB the contract to deliver a second Linkspan to their Europoort terminal for bridging the rolling cargo between shore and ship.
TTS turns 50 today!
Since 1966, TTS has made a remarkable journey from a three-man consultancy to a multinational corporation. Today - 15th March - we mark the 50th anniversary of the company.
Further TTS deliveries to Meyer Turku Yard and TUI Cruises
Meyer Turku Yard has confirmed a contract with TTS Marine AB for delivery of access equipment to their fifth and sixth newbuildings for TUI Cruises.
Revenue growth for TTS, with reduced profit in Q3 due to a weak offshore market
A negative result of MNOK 48 in the offshore segment, including a MNOK 20 write-down of inventories, contributed to a Q3 profit in TTS Group before interest, taxes and depreciation (EBITDA) of minus 12 MNOK with turnover of MNOK 805.
TTS to equip the second ferry duo for Gotlandsbolaget to be built in China
TTS Marine AB, a subsidiary of TTS Group ASA, has again secured a Ro-Ro contract. This time a contract to supply Ro-Ro equipment to Rederi AB Gotland’s new vessel ordered in June 2015, an option to the vessel signed in 2014 with Guangzhou Shipyard in China.
TTS to deliver access equipment for the world largest hospital ship
TTS Marine AB has received an order from the Chinese yard Tianjin Xingang Shipbuilding Heavy Industries, a member of the state owned shipbuilding group China Shipbuilding Industry Corporation (CSIC). The contract includes delivery of equipment for access of personnel and provision to a 37,000 GT hospital ship to be built for the charity organisation Mercy Ships.
Syncrolift™ deal strengthens TTS's position in the shiplift market
TTS Handling Systems AS, Norway (TTS) has entered an agreement with Rolls-Royce Marine North America Inc. to acquire Syncrolift™ assets. The deal implies a broadening of TTS’ offerings to the market for shiplifts and transfer system solutions as well as opportunities for increased shiplift re-build & service revenue related to the significant number of installed Syncrolift shiplifts worldwide.