Merger of RAM spreaders and Peiner Smag

NSL Engineering Holdings Pte. Ltd. (NSEH), a wholly-owned subsidiary of NSL Ltd., has entered into agreement with Salzgitter Maschinenbau AG (SMAG) in relation to the proposed merger of NSE’s RAM container spreader business with SMAG’s grab business.

Under the agreement, NSEH will inject RAM into SMAG’s fully owned subsidiary, Peiner SMAG Lifting Technologies GmbH (“PSLT”) in exchange for 33.33% equity stake in PSLT with SMAG holding the remaining 66.67% equity stake.

According to a statement, the merger will lead to the formation of the world’s largest independent lifting device group in both bulk cargo and container handling.