Bharati Shipyard acquires all the Shipyard machinery & equipments of Swan Hunter Shipyard

Bharati Shipyard Ltd has announced that the Company has acquired all the shipyard machinery and equipments of Swan Hunter (Tyneside) Shipyard Ltd. Through this acquisition the Company acquires fully automated panel lines, quayside traveling gantry cranes upto 180T capacity, 30 overhead traveling cranes upto 60T capacity, plate bending rolls of 2000 ton capacity, bending presses, robotic profiling machines, CNC plasma burning equipment, etc.

These equipments will be used by the Company at its existing yards as well as for its Greenfield projects. The Company has also acquired the 20,000-ton lift capacity floating dock of Swan Hunter Shipyard, which will add a lot of value to its existing operations. This acquisition would help the Company to save cost and lead-time, which would have otherwise been spent in procuring the new machineries and equipments.

Swan Hunter shipyard is an internationally renowned shipbuilding yard. Swan Hunter was engaged in shipbuilding, ship conversion and construction of offshore structures. It had capacity to build vessels upto 1,00,000 DWT. During its 130 years of existence, Swan Hunter built over 1,600 ships of various types including more than 400 naval vessels.

The stock was trading at Rs.388, up by Rs.3.55 or 0.92%. The stock hit an intraday high of Rs.398.4 and low of Rs.387. The total traded quantity was 9263 compared to 2 week average of 22643.

Source : Equity Bulls

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