Paramount Group has acquired a majority stake in Nautic Africa, adding in-house shipbuilding capability to its portfolio.
The acquisition follows the growing demand of maritime capabilities for the protection of Africa’s coastlines, lakes and rivers as well as its political and economic assets.
Paramount Group said in a statement released on 26 November that the investment will lead to enhanced production capabilities with the current workforce of 100 expected to double by 2015.
Nautic Africa offers ‘customised vessel solutions’ and specialises in high-speed, ballistic-protected aluminium patrol vessels ranging from 9-90m for deployment in oil and gas security, anti-piracy and illegal
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