Gula Skrinet has reached an agreement with Caterpillar Luxembourg to acquire Caterpillar Propulsion and its subsidiaries. The sale is expected to close on June 30, 2020. Caterpillar Propulsion, formerly Berg Propulsion, is a manufacturer of mechanically and electrically driven propulsion systems and marine controls for ships.
The proposed acquisition includes Caterpillar Propulsion and its subsidiaries, including Caterpillar Propulsion Production, as well as Caterpillar Propulsion, its subsidiary Caterpillar Propulsion International Trading (Shanghai) Co. and its Dubai branch. The transaction will include the manufacturing operations in Sweden and Singapore and office locations in Shanghai and Dubai.
“My message to customers, suppliers and other external partners is clear – we will honor all existing contracts and agreements and make sure to safeguard a seamless transition,” said Stefan Sedersten, previously the COO and shareholder of the former Berg Propulsion.
The new owner of the company is dedicated to building on what has been achieved during the years with Caterpillar and to continue to develop the company’s external relationships, products and services in close cooperation with customers and partners.
“Our aim is to combine the best of two worlds, the innovative and efficient approach of the big company with the flexibility and nimbleness of the small enterprise. This propulsion business is a household name in the industry, well-known for its dedication to customer satisfaction, reliable products and services, and we have every intention to make sure it continues that way. I look forward to serve the customers together with the skilled and experienced people in the entity where I’ve spent much of my past career.”
Headquartered in Öckerö Islands outside Gothenburg, Sweden, Caterpillar Propulsion has designed and manufactured heavy-duty marine thrusters and controllable pitch propellers since the late 1920s. Its proprietary systems are employed in maritime applications throughout the world.
Upon closing of the sale, the products and services will be branded Berg Propulsion.
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