Change Of Shareholding At A & P Appledore International
A & P Appledore International Ltd., the marine industry's services group, has been acquired by A & P Appledore (Holdings) Ltd., a company formed by the senior employees of the company.
The shares in A & P Appledore International Ltd. were in the main owned previously by London & Overseas Freighters Ltd., the U.K. shipping group and the liquidator of Court Line.
The company has, since its inception in 1971, built up a reputation as one of the world's leading groups of shipyard engineers. Its reputation was established by the package of services it provided in the development of Hyundai Shipyard.
Since then, A & P Appledore has operated in over 40 countries, assisting not only with shipyard development but also in stimulating British exports.
It has also been responsible for the design of and (in the case of the last two) the project management of Britain's latest shipyards at Sunderland Shipbuilders, Austin & Pickersgill and Cammell Laird. It has carried out a number of assignments for British shipbuilders.
Recently, A & P Appledore has provided the technology for the audit of all United States yards in a contract for the U.S. Maritime Administration. It is also carrying out a development study for the new multipurpose shipyard for the Suez Canal Authority. Charles Longbottom, who has been chairman since the company was established, retires and is succeeded by James Venus, previously chairman of Appledore Shipbuilders.
Peter Nash remains chief executive.
Mr. Nash said in London: "It gives us a real opportunity to develop and expand the company. We have recently expanded our traditional shipbuilding/repair base to offshore and heavy industrial engineering.
This, however, will give the process terrific impetus."