TEAM­ING UP

Ger­man com­pany ac­quires 40 per cent of Aspin Kemp

The Guardian (Charlottetown) - - THE ISLAND - BY MITCH MAC­DON­ALD mitch.mac­don­ald@the­guardian.pe.ca Twit­ter.com/Mitch_PEI

Aspin Kemp and As­so­ci­ates and a Ger­man diesel en­gine com­pany have joined forces.

A new part­ner­ship be­tween Aspin Kemp and As­so­ci­ates (AKA) and a Ger­man diesel en­gine com­pany ap­pears to be a match made in ma­rine power heaven.

MAN Diesel & Turbo SE have ac­quired a 40 per cent hold­ing in the P.E.I. com­pany, a move which own­ers said will al­low for new in­no­va­tion while also bring­ing growth to ma­rine and en­ergy sec­tors in P.E.I. and other ar­eas of Canada.

AKA co-founder Ja­son Aspin said the new part­ner­ship will help AKA build its po­ten­tial with MAN in a broader mar­ket through the Ger­man com­pany’s pres­ti­gious brand, global sales net­work and strong en­gi­neer­ing foun­da­tion.

In fact, Aspin de­scribed MAN as “the per­fect part­ner.”

“They spe­cial­ize in diesel en­gines and tur­bines, the me­chan­i­cal side of pro­vid­ing power. We spe­cial­ize in the elec­tri­cal side of pro­vid­ing power,” said Aspin, who will re­main a con­trol­ling share­holder and CEO of AKA while fel­low co-founder Neale Kemp will re­tire from ac­tive busi­ness op­er­a­tions. “It’s a great match. We con­tinue to re­tain con­trol of the com­pany and have got a part­ner with a strong in­vest­ment in the com­pany so it’s a good fit.”

Aspin said the move, which has been in the works for about a year, will also ben­e­fit Is­lan­ders.

“It’s go­ing to mean a lot for our com­pany. What’s good for com­pany is also good for the Is­land and the com­mu­ni­ties we work in,” said Aspin, who also thanked the com­mu­nity.

MAN is the world’s lead­ing provider of large-bore diesel and gas en­gines and turbo ma­chin­ery, em­ploy­ing around 14,500 staff in more than 100 in­ter­na­tional sites.

While the com­pany may be un­fa­mil­iar to those out­side of the in­dus­try, MAN pow­ered ves­sels de­liver more than half of all prod­ucts shipped over­seas.

Mem­bers of both com­pa­nies cel­e­brated the part­ner­ship dur­ing a for­mal an­nounce­ment at AKA’s Mon­tague head­quar­ters on Mon­day. MAN CEO Uwe Lauber said AKA’s ex­per­tise will bring MAN closer to the strate­gic ob­jec­tive of be­ing the mar­ket-lead­ing sys­tem sup­plier for en­ergy man­age­ment on­board ships.

“AKA is a tech­no­log­i­cal pi­o­neer in growth niches that are of de­ci­sive im­por­tance for us, for ex­am­ple in the in­te­gra­tion of bat­tery stor­age tech­nol­ogy for hy­brid drive sys­tems for the mar­itime sec­tor,” said Lauber. “Hy­brid drives are be­com­ing ever-more im­por­tant as they help to im­prove the ef­fi­ciency of the drive sys­tems and at the same time re­duce emis­sions.”

Pre­mier Wade MacLauch­lan con­grat­u­lated the P.E.I. com­pany for its ma­jor de­vel­op­ment.

“This re­flects the strong work­force and lead­er­ship of the com­pany and the com­pet­i­tive ad­van­tages they bring to Prince Ed­ward Is­land in ma­rine nav­i­ga­tion and power sys­tems,” said MacLauch­lan. “This rep­re­sents a ma­jor op­por­tu­nity for eastern P.E.I. and our en­tire province.”

The trans­ac­tion is sub­ject to the ap­proval of the Su­per­vi­sory Board of MAN SE and of the re­spon­si­ble reg­u­la­tory au­thor­i­ties.

“They spe­cial­ize in diesel en­gines and tur­bines, the me­chan­i­cal side of pro­vid­ing power. We spe­cial­ize in the elec­tri­cal side of pro­vid­ing power. It’s a great match. We con­tinue to re­tain con­trol of the com­pany and have got a part­ner with a strong in­vest­ment in the com­pany so it’s a good fit.” Ja­son Aspin

MITCH MAC­DON­ALD/THE GUARDIAN

Aspin Kemp and As­so­ci­ates co-founder Ja­son Aspin, left, shakes hands with MAN Diesel & Turbo SE ex­ec­u­tive board mem­ber Wayne Jones dur­ing an event cel­e­brat­ing a new part­ner­ship be­tween the two com­pa­nies. MAN has ac­quired a 40 per cent hold­ing in the P.E.I.-based com­pany.

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