The Port of Milford Haven has today Wednesday, December 16, announced that it will sell its 36% investment in Marimatech A/S, a Danish company that designs and manufactures advanced marine positioning and piloting systems.

The port bought a share in the company, the world's largest supplier of hi-tech maritime laser docking systems, early in 2012 after it entered into administration.

The company which was established in 1988 was restructured and sold with Milford Haven Port - the third largest port in the UK - securing over a third of the business.

The port's then director of corporate affairs, Mark Andrews, said it had been a satisfied customer of Marimatech for almost ten years, and the company's products continued to play a major role in the safe management of the Waterway.

“Once we became aware of the company's financial position, it seemed in everyone's interests to reach an agreement with the three other investors, and the bank, to purchase a share of a restructured and, with the new equity injection, a significantly stronger business.”

The port today said that it has concluded an agreement to sell its investment in Marimatech A/s as part of a sale of the whole of the Marimatech business to Trelleborg Offshore and Construction.

“Marimatech has been a profitable investment for the port,” said Alec Don, Chief Executive of the Port of Milford Haven, said More importantly Marimatech’s new world-beating Safepilot navigation software is now an integral part of our operation, making a major contribution to safe navigation within the port.”

Richard Hepworth, President, Trelleborg’s marine systems operation said: “Marimatech truly shares Trelleborg’s standards, having been built on the values of innovation, technology and quality.

“I’m very much looking forward to introducing our two teams and sharing best practice so that our customers can enjoy an enhanced product portfolio and even better service in future.”