Regional conglomerate Jebsen & Jessen Southeast Asia (JJSEA) announced the purchase of Singapore-based Halcyon Offshore on 28 May, in an expansion move that extends the multi-disciplinary company into the service of offshore marine vessels and shipyards.
Jebsen & Jessen’s Cambodia country manager says the move could have implications for Cambodia’s own developing offshore marine industry.
“We’re going into a new area, a very interesting field. Hopefully we will develop some additional opportunities for Cambodia in the years to come when the offshore market is ready. This could be highly interesting,” said Jebsen & Jessen Cambodia Ltd General Manager Alfons Mensdorff-Pouilly.
“This is a very significant acquisition for Jebsen & Jessen and it goes along with our expansion policy that we have started a couple of years ago, one part of which was also to open up in Cambodia and these go hand in hand,” he added.
Halcyon Offshore Pte Ltd, which had a turnover of more than US$100 million in 2011 and employs 470 people, is one of the leading engineering and construction firms providing services to owners, and operators of marine vessels and shipyards.
“We were attracted to the offshore and marine sector by its strong long-term fundamentals,” said Group Chairman Heinrich Jessen.
Originally a Danish company founded in 1895, Jebsen & Jessen is now a global group of companies with its Southeast Asia headquarters in Singapore since 1963, employing 3,500 people across the region in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.