EMDAD Acquires Litwin PEL
During the last twelve months Bateman Litwin Group has gone through various changes in its structures all around the world in order to prepare first for a De-listing from the London AIM Market, and then to Divest from the Engineering and EPC business.
The path for achieving this divestment lead to the conversion of the holding structure to financially independent entities, sharing the same Name, Brand, Quality Management System, HSE System, Processes, Governance practices, history and expertise. The co-operation between the Litwin entities remains the same as before and is regulated through various mutual cooperation, regional demarcation and trademark agreements. The support and depth currently provided to our customers in each country in the regions we serve is maintained.
In the case of Litwin PEL the natural choice for Bateman Litwin equity transfer has been EMDAD who were already holding 51% of the shares in this entity.
EMDAD expressed interest in increasing its shares in Litwin PEL more than 2 years ago, at the time when the Bateman Litwin group divestment strategy was communicated.
LEC is a Management company located in Cyprus and managed by Pierre Leretz, and holds shares for that purpose. It gives the Litwin PEL entity continuity in the Litwin Engineering history and journey in the future.
Litwin PEL activities include: secondment of highly skilled professional manpower to the OPCO’s, General Engineering Services (GES), Conceptual and Detailed Engineering services to all the OPCO’s in the UAE mainly and Mid size Process Oriented EPCs under US$100M.
In the coming days, we will organize a meeting between EMDAD and Litwin PEL, in order to better know each other and explore synergies and establish co-ordination committees.