TTS Group is a leading international equipment and solutions provider to the marine and offshore industries. The company has built a strong product portfolio over the last 50 years and holds market leading positions for core shipping equipment.
Since early 2000 TTS has expanded its position in China, the leading shipbuilding country in the world. Turnover in TTS' Chinese joint ventures is around NOK 1 billion, with an annual growth of more than 30%.
TTS Group has a strategy to grow its product portfolio and service offering. Sales of larger bundled equipment packages and solutions will improve efficiency for both shipyards and ship owners. The company has therefore reorganized its business units from a product focus to a ship-type focus. The aim is to increase the order value per ship and increase TTS' market position, both in China and internationally.
In order to position the TTS Group for this growth the Board of Directors of TTS Group has decided to run a strategic process to explore opportunities for both acquisitions and partnerships.
Pareto Securities AS is engaged as financial advisor.
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About TTS Group:
TTS Group ASA is a global enterprise that designs, develops and supplies equipment solutions and services for the marine and offshore industries. TTS is one of the top three largest suppliers in its specialized market segments. The group's activities primarily involve design, assembly and testing of equipment while, apart from manufacture of certain key components, production is undertaken by a global network of subcontractors. With a worldwide workforce of around 1,100, TTS has close to 50 years of experience in the maritime industry. The group has subsidiaries in Brazil, China, Finland, Germany, Greece, Italy, Korea, Norway, Poland, Singapore, Sweden, USA and Vietnam. TTS Group is listed on Oslo Stock Exchange (TTS: Oslo) and headquartered in Bergen, Norway.