Torm acquires full ownership of ME Production

TORM expands its environmental and technical capabilities by acquiring full ownership of ME Production, a Danish specialist in advanced marine and energy equipment. TORM has acquired the remaining 25% ownership stake in ME Production from founder and CEO Jens Peter Faldt. MEP is a Danish industrial engineering company with a proven record in green maritime equipment. This expansion follows TORM’s initial acquisition of a 75% ownership stake in 2022, and now TORM has full ownership of MEP. The two companies have maintained a close, productive collaboration since 2018, when a joint venture was established to manufacture exhaust gas cleaning systems in China. Since then, more than 70 systems have been installed on TORM vessels. MEP will continue to operate as an independent company with headquarters in Frederikshavn, Denmark, and will continue to serve its broad marine and industrial customer base using its global service network. As sole owner, TORM will provide strengthened strategic support and investment in MEP, which will enable MEP to grow its role as a center for industrial innovation. MEP develops a range of green energy solutions. One of its most advanced projects is a heat pump system that reduces energy use and environmental impact for ships and industrial facilities by utilizing waste heat. TORM considers MEP a technical development hub that supports TORM’s environmental goals and creates long-term value across the industry, enabled by competencies and innovation from TORM’s integrated platform for ship operation.