Boskalis strengthens position in growing offshore wind market
March 07 2016 - 2:00AM
Papendrecht, 7 March 2016
Royal Boskalis Westminster N.V.
(Boskalis) has signed a Letter of Intent (LOI) to acquire offshore
activities from VolkerWessels. Under the intended transaction,
Boskalis will acquire maritime and offshore wind energy related
activities of VolkerWessels, being VBMS, Stemat and VSI (Volker
Stevin International).
Peter Berdowski, CEO Boskalis:
"For many years we have been working closely and
constructively together with VolkerWessels both on- and offshore.
Over the last couple of years, we jointly increasingly targeted
offshore wind opportunities and together acquired and completed
projects successfully. For the coming years, we expect demand for
offshore wind energy to further increase both in Northwest Europe
and beyond. We are therefore very enthusiastic that we can
incorporate these activities into Boskalis for the full one hundred
percent. Combining these with our other maritime activities will
create new opportunities for market and cost synergies. This is a
logical and desirable step for Boskalis in its strategy aimed at
strengthening its offshore service proposition."
Boskalis and VolkerWessels have been working
together successfully for years in the offshore wind energy market.
VBMS, a 50/50 Boskalis - VolkerWessels joint venture, is the
European market leader in the field of offshore cable installation
with a strong market position and well-filled order book. As a
consequence of this transaction, Boskalis will acquire the
remaining 50% share in VBMS. Stemat has a global offering of
specialized vessels including a cable laying vessel and
multi-purpose vessels. VSI is specialized in the construction of
offshore foundations and maritime constructions. Late 2014 and
mid-2015, Boskalis and VSI in joint venture acquired two large
offshore wind park projects, Wikinger and Veja Mate respectively.
As a consequence of this transaction, Boskalis will execute these
two projects on a 100% basis.
The current annual revenue, excluding the two
offshore wind park projects, amounts to approximately EUR 200
million with an EBITDA of approximately EUR 30 million. The pro
forma impact on the Boskalis order book as per year-end 2015 is
more than EUR 600 million, of which more than EUR 200
million is attributable to the two offshore wind park projects that
are currently being executed.
It is the intention to close this transaction in
the second quarter of 2016 subject to the satisfaction of customary
conditions and with an effective date of 1 January 2016.
For further
information
Investor relations:
Martijn L.D. Schuttevâer
ir@boskalis.com
Press:
Arno Schikker
press@boskalis.com
T +31 78 6969310
This is an
English translation of the Dutch press release. In the event of any
disparity between the Dutch original and this translation, the
Dutch text will prevail.
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 services including 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, Dockwise and Fairmount)
and towage and salvage (through SMIT). Furthermore, Boskalis has a
number of strategic partnerships in harbor towage and terminal
services (Keppel Smit Towage, SAAM SMIT Towage and Smit Lamnalco).
With a versatile fleet of 1,000 units Boskalis operates in around
75 countries across six continents. Excluding its share in
partnerships, Boskalis has approximately 8,500
employees.
This press release can also be found on our
website www.boskalis.com.
pdf version press release
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Koninklijke Boskalis Westminster N.V. via
Globenewswire
HUG#1992103
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