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Koninklijke Boskalis Westminster N.V. : Boskalis and SAAM sign MoU for joint towage operations



 Koninklijke Boskalis Westminster N.V. : Boskalis and SAAM sign MoU for joint
                              towage operations

Papendrecht, 11 April 2013

Royal Boskalis Westminster N.V. (Boskalis) announces that it has signed a
Memorandum of Understanding (MoU) with Sudamericana Agencias Aereas y
Maritimas S.A. (SAAM) for a joint harbour towage operation within the American
Continent. The partnership would involve two joint ventures and is between
SMIT, a wholly owned subsidiary of Boskalis, and SAAM.

The geographic scope of the first joint venture covers the Brazilian towage
market. Both companies are currently active in Brazil and Boskalis with SMIT
will have a 51% majority share in this joint venture. The combination with a
total of 41 tug boats will form an important  player in the growing market of
Brazil.

The second joint venture in which SAAM will hold a 51% majority stake relates
to the towage activities in Panama and Canada (SMIT) and Mexico (SAAM). The
combination will operate a total number of 55 tug boats.

The joint operation between SMIT and SAAM will create a leading provider of
towage services in Central and South America. Besides operational synergies,
the joint operations will also strengthen the market position of the combined
companies.

The total value of the SMIT and SAAM assets respectively that will be
contributed to the combined joint ventures is comparable. The implementation
of the MoU is subject to certain customary conditions including a due
diligence process and approval from regulatory agencies in the respective
countries involved.

 

Royal Boskalis Westminster N.V. . is a leading global services provider
operating in the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round solutions to
infrastructural challenges in the maritime, coastal and delta regions of the
world with the construction and maintenance of ports and waterways, land
reclamation, coastal defense and riverbank protection. In addition, Boskalis
offers a wide variety of marine services and contracting for the offshore
energy sector including subsea, heavy transport, lifting and installation
(through Boskalis Offshore and Dockwise) and towage and salvage (through
SMIT). It also has strategic partnerships in the Middle East (Archirodon) and
in terminal services (Smit Lamnalco). With a versatile fleet of over 1,100
units Boskalis operates in around 75 countries across six continents.
Including its share in partnerships, Boskalis has approximately 15,600
employees.

This press release can also be found on our website www.boskalis.com.

 

FOR MORE INFORMATION

Investor Relations:

Martijn L.D. Schuttevâer

ir@boskalis.com

Press:

Arno Schikker

press@boskalis.com

T +31 78 6969310

F +31 78 6969020

 

PDF version of press release

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Koninklijke Boskalis Westminster N.V. via Thomson Reuters ONE
HUG#1692194
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