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HELLERUP, Denmark - TORM A/S (TRMD), a leading carrier of refined oil products with a market capitalization of $31.47 billion, has announced the acquisition of the remaining 25% stake in ME Production (MEP), a Danish engineering company specializing in green maritime equipment, securing full ownership. This move follows TORM’s initial 75% stake acquisition in 2022 and underscores its commitment to advancing environmental initiatives within the maritime industry. According to InvestingPro data, TORM maintains strong financial health with an EBITDA of $1.75 billion and robust liquidity metrics.
MEP, which will continue to operate independently from its Frederikshavn headquarters, has been a close collaborator with TORM since 2018. The partnership has yielded over 70 exhaust gas cleaning systems installed on TORM vessels, contributing to a 40% reduction in CO₂ intensity for TORM in 2024, six years ahead of the International Maritime Organization’s 2030 target. InvestingPro analysis reveals that TORM’s strong cash flows sufficiently cover interest payments, while maintaining a healthy current ratio of 2.09, indicating solid operational efficiency.
Jesper S. Jensen, Head of Technical Division at TORM, stated that full ownership of MEP will enhance the company’s innovation efforts and the scaling of technologies that align with TORM’s environmental strategy. MEP’s role as a center for industrial innovation is expected to grow with TORM’s strategic support, fostering long-term value across the maritime sector.
MEP’s portfolio includes advanced green energy solutions like a heat pump system that utilizes waste heat to reduce energy consumption and environmental impact for ships and industrial facilities. The acquisition is seen as a strategic step to strengthen MEP’s engineering and innovation capabilities, with the backing of TORM’s resources and platform.
Jens Peter Faldt, CEO of MEP, expressed confidence that the integration into TORM would enable MEP to further its mission of providing clean technologies and expand the reach of its products and services in the maritime and energy sectors. The company is known for its research and development, engineering, and manufacturing of marine equipment, including energy-saving solutions.
This strategic acquisition is based on a press release statement and reflects TORM’s continued dedication to environmental stewardship and innovation in the maritime industry, leveraging MEP’s expertise and technology to advance its green maritime ambitions. For deeper insights into TORM’s financial health and growth potential, InvestingPro subscribers can access comprehensive analysis, including 8 additional ProTips and detailed valuation metrics in the Pro Research Report, available for over 1,400 US equities.
In other recent news, Agilent Technologies Inc. reported fiscal second-quarter results that exceeded expectations, with revenue reaching $1.67 billion, surpassing the anticipated $1.63 billion, and earnings per share (EPS) at $1.31, beating the estimate of $1.26. Analysts responded positively, with TD Cowen, Stifel, and Leerink Partners raising their price targets to $150, $151, and $135, respectively, while maintaining favorable ratings. Jefferies also adjusted its price target to $120, keeping a Hold rating. Despite the challenges posed by tariffs and customs delays, Agilent’s strong performance was supported by core growth across various business lines, including a 75% increase in PFAS-related business and high-teen growth in Biovectra. The company’s Ignite initiative played a significant role in mitigating tariff impacts and driving cost savings. Agilent’s management remains optimistic about future growth, projecting full-year revenue between $6.73 and $6.81 billion and maintaining an EPS guidance of $5.54 to $5.61. The company also anticipates continued strength in the pharmaceutical sector and double-digit growth in its Nasdaq Stock Market Division. Analysts from firms like JPMorgan and Stifel highlighted Agilent’s ability to navigate macroeconomic headwinds and maintain a stable outlook for 2025.
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