Lowestoft-based SLP Engineering has been bought out of administration by Sembcorp Marine Group in a £2.5m deal that will give the Singapore multinational a footprint in the UK.

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It comes after months of uncertainty for SLP, after its parent company Dutch-based Smulders Group went into administration earlier this year.

Ho Nee Sin, managing director of Sembcorp’s wholly owned subsidiary SMOE, said “Following the acquisition, Semb now have a footprint in the UK, providing synergistic support and reaching out to its North Sea clientele. Sembmarine SLP offers the opportunity for future growth in new business areas within the renewable energy sector as well as in the marginal oil and gas fields in the North Sea and Asia Pacific waters.”

For the full story see tomorrow’s EDP.

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