Abu Dhabi - Mubasher: AD Ports Group has wholly acquired the UAE-based Divetech Marine Engineering Services, specialised in installation, inspection, repair, and maintenance for ports and other maritime organisations.
The transaction will enable AD Ports to expand its maritime services and gain commercial, operational, and financial benefits, according to a recent press release.
The group will finance the acquisition from its existing cash reserves.
The Managing Director and Group CEO of AD Ports Group, Mohamed Juma Al Shamisi, said: "Our acquisition of Divetech represents an important strategic opportunity for growth, enabling us to integrate a dynamic company with a significant pipeline of potential new business into our operations."
Meanwhile, the Chief Corporate Authority Officer and Acting Head of Maritime Cluster of AD Ports Group, Maktoum Al Houqani, commented: "This acquisition provides a strong strategic fit for our existing portfolio of services and our plans for growth."
Earlier, AD Ports' container feeder arm, SAFEEN Feeders, signed a long-term agreement with Bangladesh-listed Saif Powertec Limited Company to facilitate trade exchange and shipping services between the two countries.
The two parties will cooperate in cargo services between Fujairah and Bangladesh for 15 years.
