Torm acquires remaining stake in ME Production

Torm has acquired the remaining 25 per cent of Danish marine equipment manufacturer ME Production (MEP), giving it full ownership of the company. The transaction completes an acquisition that began in 2022 when Torm purchased an initial 75 per cent stake.

MEP, based in Frederikshavn, Denmark, specialises in exhaust gas cleaning systems and energy efficiency solutions for maritime and industrial use. It will continue to operate as an independent entity and serve its existing customer base through its global service network.

The two companies have collaborated since 2018 through a joint venture producing scrubbers in China. More than 70 of these systems have been installed on Torm’s fleet to date.

Torm said the acquisition would allow it to invest further in MEP’s technical capabilities. MEP is currently developing a heat pump system aimed at improving energy efficiency by using waste heat on ships and in industrial facilities.

Jens Peter Faldt, who founded MEP and sold the remaining stake, said the company would benefit from increased investment under Torm’s full ownership.

MEP said it would continue to focus on research, engineering and manufacturing of marine and land-based equipment, including scrubbers and other local emissions-reduction technologies.