Finland's Lamor Group, a world leader in oil spill response and environmental technologies, has acquired American ballast water treatment manufacturer Hyde Marine Inc, of Cleveland, Ohio, USA. The acquisition is part of Lamor's growth strategy. It is estimated that about 10Bnt of ballast water are transferred globally each year, potentially moving from one location to another marine species that may prove ecologically harmful when released into a non-native environment. The IMO Ballast Water Management Convention will soon require that all - existing or newly built ships, numbering some 75 000 vessels over the next 10 years, have IMO type approved Ballast Water Treatment Systems installed. Hyde Marine has invested significant resources in the development of ballast water technologies designed to enhance the protection of the marine environment. The system is currently undergoing IMO type approval through the UK Maritime & Coastguard Agency (MCA) in cooperation with Lloyds Register. Tognum AG, whose core brands are MTU and Detroit Diesel, has been informed by private equity group EQT that it has sold its remaining approximately 22% stake in the company, which it held through Seeker Rekees Sarl, to Daimler AG. Daimler's Supervisory Board has approved the acquisition and has informed Tognum that it intends to acquire a blocking minority (25% plus one share) in Tognum AG. The entire transaction is subject to the approval of antitrust and other authorities. Tognum's Board of Management has welcomed the decision.
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