January 12 - Singapore headquartered offshore services company Vallianz Holdings has acquired a 45 percent stake in Holmen Heavylift Offshore for SGD2.85 million (USD2.28 million).

Vallianz said the acquisition would enable it to diversify its product offering to include offshore construction support vessels. Holmen owns three semi-submersible launch barges that are used for the transportation and installation of jackets used in oilfield developments.

In July 2013, Vallianz signed a collaboration agreement with Offshore Oil Engineering (COOEC) - a subsidiary of China National Offshore Oil Corporation - one of China's largest offshore engineering and construction companies.

Ling Yong Wah, Vallianz Holdings' executive director, stated: "The Holmen acquisition will broaden Vallianz's product offering to its customers and also capitalize on its relationship with COOEC."