Schottel and Elkon collaborated in the shipbuilding industry. While the contract for the acquisition of the majority stake in Elkon by Schottel Industries GmbH was signed in Istanbul, the agreement was announced at the Nor-Shipping Trade Fair in Oslo, Norway. Energy-efficient propulsion system concepts, hybridization, and electrification, which are the general activities of both companies, will now be presented in a complementary manner.
Will takeover from Vera Capital
According to the information given, Schottel will take over the majority stake in Elkon from Vera Capital, the investment company of the Özokur family, and the minority stake will belong to Elkon’s senior engineers and management, as it is currently. In addition to Schottel GmbH, Elkon will become a legally independent group company of Schottel Industries GmbH, a holding company that currently includes companies from the automation and transmission technology sectors. The takeover is expected to go into effect this spring, after reviewing by competition authorities.
Customers will benefit from Schottel’s global reach
Customers will be able to continue to benefit from Schottel and Elkon’s customary agile, Professional, and independent services. Significant advantages will emerge for customers in the expansion of the portfolios of both companies and the commissioning of possible turnkey delivery systems and electrical system integration solutions. For both companies, the option to carry out projects with other business partners in the market will continue. With the agreement, Elkon takes an important step in opening up to international markets. In addition to the existing regional focus on Europe, some Caspian Sea countries, and the Middle East and North America, customers of the Tuzla-based systems integrator will benefit from the global reach of the Schottel network. This network consists of more than 170 service engineers and service locations in all major shipping centers around the world.
We will strengthen strategically
Stefan Kaul, General Manager of Schottel GmbH, stated that with the agreement, Schottel will be further strengthened strategically, “We will achieve this with Elkon’s well-known and very successful experience in electrical power system engineering, design, and integration for ships. We will expand our portfolio to include everything related to the generation, distribution, storage, and management of electrical power onboard. “Schottel is becoming a complete system supplier for electrical and green propulsion systems.”
We will develop further environmental systems
Elkon General Manager Ertuğ Yaşar said: “In the past, Schottel and Elkon have already signed contracts for various projects independently of each other. These contracts included nearly every possible type of ship, from tugs and ferries to offshore vessels. Therefore, both companies play an important role in the decision-making process of their customers. In the long run, they will benefit from each other and will develop further, especially in the direction of green propulsion systems.”