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Mar 08, 2023 17:13 EEST
March 8 (SeeNews) - Bulgarian privately-owned marine engineering business Varshyp Design will be renamed Breeze Ship Design Bulgaria after a takeover deal with a Norwegian ship design and engineering services company by the same name, the buyer said on Wednesday.
The Varna-based company with 20 staff will be a long-term solid local engineering hub as the Norwegian company sees rising demand for services and a bright outlook for competitive assignments linked to zero emission projects, Breeze Ship Design said in a press release.
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“The expansion will strengthen Breeze Ship Design’s engineering capacity and bring increased synergy by combining business activities and diversifying work tasks between our offices in Norway and Bulgaria,” the Norwegian shipbuilder's chief executive, Ove Wilhelmsen, said.
The transaction, which began to be negotiated last year, closed in January. No financial terms were disclosed.
According to Boyan Bonev, managing director of Breeze Ship Design Bulgaria, the deal will give the local company access to international markets.
"We are currently working hands-on with design and projecting of several vessels that will operate on clean alternative fuels. In addition, we are also involved in carbon dioxide (CO2) capture and storage, designing two carriers for safe loading, transport, and offshore injection of CO2 with as low emissions as possible,” Wilhelmsen explained.
Last year, Varshyp Design launched a VRV35 vessel, designed for research missions in the Black and Mediterranean Sea.
Breeze Ship Design builds vessels for offshore services, fishing and acquaculture, navy and coastguard as well as tankers, container ships, icebreakers and passenger ferries.
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