Portek Systems & Equipment (PSE), a subsidiary of Singapore-based Portek International Limited, has sold its remaining 25 per cent equity in Bromma Far East (BFE) to its joint-venture partner, Zeteco AB (Zeteco), a related company of Bromma Conquip AB, for a sum of S$3.49 million (US$2.27 million).

In addition, all of BFE's retained earnings up to December 31, 2006, are to be distributed to both PSE and Zeteco in the ratio 25 per cent and 75 per cent respectively, a company statement announced. BFE deals with the selling and servicing of spreaders and load handling devices for containers.

The Portek Group, which is a turnkey provider of equipment, services and solutions for the global port industry, as well as an operator of container and bulk terminals, said it expects to make a profit of about S$3.2 million from the deal.