Samsung C&T acquires liquid natural gas arm
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Samsung C&T has acquired the entire shareholding in the liquid natural gas (LNG) specialist Whessoe from its Saudi Arabian owners.
UK-based Whessoe will continue to be run by its existing management but will now have its ambitious growth strategy supported by Samsung C&T's global network.
Yeon-Joo Jung, chief executive of Samsung C&T said that his company had become aware of Whessoe's expertise through its work on major projects in Korea and India.
He commented: "We are delighted to access this impressive talent pool. Together we are stronger, and will become the most innovative and successful company in the gas sector."
Wilf McNaughton, Whessoe's general manager, said: "This is a vote of confidence in the skills, knowledge and innovation that this historic company has delivered and continues to offer the world.”
“For 200 years our engineers have been driving advancement for the benefit of Britain and, with the support of Samsung C&T, we now have advanced plans to grow this business globally."