Jan 8, 2011

Wintermar sets up JV with Lanpan

After reporting a 2.80 million shares purchase at Rp320 per share on January 4, Sugiman Layanto, President Director of PT Wintermar Offshore Marine Tbk (WINS), on January 6 reported a 233,000 shares purchase at Rp320 per share or Rp74.56 million.
Sugiman made the transaction on January 5 with investment purpose. Post stocks purchase, he owns 41.88 million shares in Wintermar or 1.18% shareholding.
In line with the report of stocks purchase, Wintermar also announced an agreement with Lanpan Pte Ltd (Singapore) to set up a joint venture company which will own and operate offshore ships for transportation of jackets and offshore structures of offshore rigs construction.
Wintermar will control 51% shareholding in the joint venture company and Lanpan will own the remaining stake.
The JV company will firstly own a 330 feet offshore barge with 20 tons per square meter capacity supported by an anchor handling tug 4,000 HP class. The new barge will be bought this year.

Disclosure: No position at the stock mentioned above.

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