Scottish firm Ocean Kinetics has taken a 25pc stake in Donegal-based marine engineering business MMG Ocean.
Ocean Kinetics said it hoped the partnership would “drive innovation and growth in the marine engineering sector”.
The UK company said the deal will give the business better access to European markets.
(Pictured above is Martin McGuiness, managing director of MMG Ocean and John Henderson, managing director of Ocean Kinetics.)
It said that following the deal, the investment will lead to an expansion of facilities and jobs at MMG. Financial details of the investment were not disclosed.
Killybegs-based MMG Ocean has 15 staff and was established in 2005 by current managing director Martin McGuinness. The company describes itself as a leading firm in “coded welding and marine fabrication”.
Mr McGuinness said the arrangement opens up “immense opportunities” for the company.
For full story see https://www.independent.ie/business/irish/scottish-engineering-firm-ocean-kinetics-buys-25pc-stake-in-donegals-mmg-ocean/a877219627.html
