Mermaid Maritime forms joint venture with ATE Energy
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Mermaid Maritime has established a joint venture with ATE Energy in Taiwan, named MERMATE Co., Ltd. Mermaid Subsea Services (Thailand) Limited owns 49% of MERMATE, while ATE Energy holds 51%. The joint venture, with a paid-up capital of $42,000, will focus on energy technical services, cable installation, and offshore construction. The investment is funded internally and is not expected to significantly impact Mermaid Maritime's net tangible assets or earnings per share for the current financial year.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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