b'MEMBER NEWSSCHOTTEL Acquires Majority Stake in Marine Electronic System Integration CompanyT heGermanapropulsionexpertTEL becomes a complete system supplier forposition they have earned through decades of SCHOTTEL,PVAmember,andelectrical and green propulsion. reliability and a keen focus on customer inter-elkon, the Turkish specialist for marineests, says Andreas Block, general manager of electricalsystemintegration,willoperateasIn the overall scope of both companies, ener- SCHOTTEL Industries GmbH. The focus partners in the maritime market in the future.gy-efficient propulsion concepts, hybridization,is now on combining the competences in the The corresponding contract for the purchaseand electrification are now offered in a comple- long term and in letting them unfold in a finan-of the majority stake in elkon by the holdingmentary way. There is a particular overlap incially strong environment, in order to ideally company SCHOTTEL Industries GmbH hasthe field of propulsion hybridization in the newcover the future requirements.now been signed. build and conversion business. Customers can continue to benefit from the usual agile, profes- SCHOTTEL will take over the majority stake Withthetakeover,SCHOTTELintendstosional, and independent services of both com- in elkon from the family investment house Vera grow even stronger from a strategic point ofpanies in the market. The customer advantageCapital; the minority stake will remain with el-view. With elkon as renowned and very success- lies in the expansion of both portfolios and thekons senior engineers and management. elkon ful supplier of electrical power system engineer- possiblecommissioningofturnkeysolutionswill become a legally independent subsidiary ing, design and integration for vessels, we will befor propulsion systems and system integration.of SCHOTTEL Industries GmbH, a holding able to achieve this, explains Stefan Kaul, CEOOn both sides, the option to integrate respec- company which, in addition to SCHOTTEL of SCHOTTEL GmbH. We will expand ourtive market partners remains available. GmbH, already includes companies of the au-portfolio to include everything regarding gener- tomation and gearbox technology sectors. The ation, distribution, storage, and management ofBoth companies are among the competencetakeover is expected to take effect this spring, electrical energy on board of vessels. SCHOT- leaders in their respective areas of influenceafollowing a review by the antitrust authorities.EXCEED GLOBAL EMISSIONS STANDARDSOperate a lightweight vessel equipped with hybrid or electric engines. Reduce your operating and maintenance costs. Minimize your environmental impact. BUILD A CARBON FIBER FERRYLearn about Americas only carbon T- and K-Class ferry builder:www.ARCADIA-ALLIANCE.com39 APRIL 2022'