MAN Diesel & Turbo has signed a contract to purchase 40% share in Canada-based Aspin Kemp & Associates (AKA) for an undisclosed sum.

AKA currently employs approximately 120 people at five locations worldwide, and specialises in the development of power supply, energy management and drive systems for marine applications.

The company's co-founder Jason Aspin will remain as managing director and shareholder following the deal's completion.

AKA’s other founding partner Neale Kemp is retiring from active business operations and selling his shares in the company.

The agreement will help MAN Diesel & Turbo realise its Basecamp 3000+ strategic development programme, which was launched in 2016.

Basecamp 3000+ seeks to expand the company’s product range with respect to the global trends of decarbonisation and digitalisation via strategic acquisitions and partnerships.

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"The partnership with AKA is a key element in our strategy to strengthen our role as technological forerunner in the field of marine propulsion."

AKA aims to benefit from MAN Diesel & Turbo’s engineering and machine building competence in the fields of engines, exhaust gas after treatment and gas and propulsion systems under the deal.

MAN Diesel & Turbo CEO Dr Uwe Lauber said: “The partnership with AKA is a key element in our strategy to strengthen our role as technological forerunner in the field of marine propulsion.

“AKA's specialised expertise links battery storage systems and marine engines.

“The new cooperation marks an important step on the way to further establish ourselves as a principal system supplier for energy management on-board ships.”

It is further noted that energy management systems provide fully automatic control and optimise the power distribution of drive components of ships.

MAN Diesel & Turbo entered a cooperation agreement with Germany’s MM-Offshore earlier this month for the joint development of efficient aft-ship solutions for future ship designs.