A majority interest in Deltamarin is being sold to AVIC International Investments Limited, a publicly listed company on the Singapore Stock Exchange. After the closing of the acquisition, Deltamarin’s existing operations will continue as they are and the business will remain independent, keeping the name and brand unchanged, according to a company statement.

AVIC International is a part of the AVIC Group, headquartered in Beijing, with more than 300 subsidiaries around the world, of which more than 20 are publicly listed.

Existing management and key employees have agreed to make long term commitments to the company by investing in the company as well.

The Finland-based naval architectural and engineering firm has recently developed what it called “sustainable and cost efficient bulk carrier designs among the other innovative ship and floater concepts.” With the support of the new owners, the objective is to develop new products and further improve existing ones.

The company’s centers for concept and product development will remain in Europe, but its global activities will increase.