LGE designs and builds plants for the processing, storage and handling of liquid gases and is a market leader in the supply of these solutions to the marine and onshore liquid gas sectors.
LGE will be combined with Babcock’s Design Services (DS) business unit, within the Marine and Technology division. DS operates in both the naval and commercial marine markets, including the oil and gas market, and has built an excellent reputation with its key customers for developing innovative and cost effective design and conversion solutions for a range of marine vessels. The combined businesses will create a medium-sized, specialist energy and marine technology business delivering a wider offering including the design and installation of mechanical, electrical and chemical process equipment for ships, oil and gas platforms and onshore support facilities.
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In the financial year ended 30 December 2011 LGE generated gross revenue of £26.3 million and operating profits of £3.0 million. The acquisition was completed on 28 December 2012.
(CD/GK)
