26.09.2005

TTS Marine acquires Kocks GmbH

Marine crane company TTS Marine ASA of Bergen, has signed an agreement to acquire Germany’s Kocks GmbH, Bremen effective October 1st. The company will be renamed TTS Kocks GmbH.

The Kocks GmbH product range includes winches, deck machinery, deck machinery controls, and electric and hydraulic systems.

Kocks was established in 1952, offering both engineering and production of winches and other equipment at the company’s workshop in Bremen. Since 1998 the company has operated a wholly owned subsidiary in the Czech Republic for production and assembly of deck machinery.

Following a bankruptcy in 2004, the assets of the company were sold and a new company, Kocks GmbH, was established. During the past year the company has ended production and assembly in Bremen, and established a joint venture company in Korea as an alternative production and assembly base.

An engineering, service and sales base remains in Bremen, with production and assembly for European markets in Czech Republic, and for Asian markets in Korea.

The company has 34 employees with revenues in the region of €25million, 2005 sales are forecast at €29million, increasing to €34m for 2006.