Schottel takes a majority stake in a Turkish company
Companies share overlaps in propulsion hybridization technologies
The German propulsion expert Schottel has acquired the majority of the capital of elkon, the Turkish specialist in the integration of marine electrical systems.
“With elkon as a renowned and highly successful supplier of engineering, design and integration of electrical power systems for ships, we will be able to achieve this,” said Stefan Kaul, CEO of Schottel GmbH . “We will expand our portfolio to include everything related to the generation, distribution, storage and management of electrical energy on board ships. Schottel becomes a supplier of complete systems for electric and green propulsion.
Within the overall scope of the two companies, the concepts of energy-efficient propulsion, hybridization and electrification are now offered in a complementary way, according to Schottel. There is a particular overlap in the field of hybridization of propulsion in the field of new construction and conversion. The customer benefit lies in the expansion of both portfolios and the possible commissioning of turnkey solutions for propulsion systems and system integration, Schottel said. On both sides, the possibility of integrating the respective market partners remains available.
“In the past, Schottel and elkon have already been independently engaged in projects on several occasions,” said Ertuğ Yaşar, Managing Director of elkon. “They involved virtually every type of vessel possible, from tugs and ferries to offshore vessels. Both companies thus play an important role in the decision-making process of customers. In the longer term, they will benefit from each other and develop further, in particular towards Green Propulsion.
In addition to the current regional focus on Europe, selected Caspian Sea countries and the Middle East as well as North America, elkon customers will benefit from the global reach of the Schottel network, which includes more than 170 service as well as service locations in all major shipping centers around the world.
“Both companies are among the competence leaders in their respective areas of influence – a position they have earned through decades of reliability and close attention to customer interests,” says Andreas Block, Managing Director of Schottel Industries GmbH. “The focus is now on combining long-term skills and developing them in a financially sound environment, in order to ideally cover future needs.”
Schottel will take over the majority stake in elkon from the family investment company Vera Capital; the minority stake will remain in the hands of senior engineers and elkon management. elkon will become a legally independent subsidiary of Schottel Industries GmbH, a holding company which, in addition to Schottel GmbH, already includes companies from the automation and transmission technology sectors.
The takeover is expected to take effect this spring, after a review by antitrust authorities.
Founded in 1980, Elkon Elektrik (elkon) is headquartered in Tuzla (Istanbul) and has a second R&D center in Teknopark. With its subsidiary Elkon Norge AS, the specialist company is also directly available locally for customers in Norway and throughout Scandinavia.
Founded in 1921, Schottel has been developing and manufacturing azimuth propulsion and complete propulsion systems with powers up to 30 MW for ships of all sizes and types for 70 years. Around 100 sales and service outlets around the world ensure proximity to the customer.