German engineering group Babcock Borsig has sold its dockside crane and container
handling business to Fantuzzi-Reggiane of Italy.
Babcock Borsig’s cranes and harbour systems business, Noell Stahl und Maschinenbau, has been incorporated as a new joint holding company, Noell Crane Systems GmbH (NCS). Under the terms of the deal, agreed in January, NCS is 80% owned by Fantuzzi-Reggiane, but with Babcock Borsig retaining a 20% interest.
Babcock Borsig said that this strategy “ensures that the considerable synergy between both companies in production, marketing, financing and organisation is
rapidly realised. Future cooperation between two internationally acknowledged companies in crane and harbour systems will make sure that the present sites work to full capacity and thus have a future.”
The NCS business includes sites in Würzburg, Germany and in Abu Dhabi, UAE. It also includes the 70% interest in Noell’s Chinese joint venture, PNCM.
Fantuzzi-Reggiane and NCS will remain separate companies.
