Latest news from Heavy Lift & Project Forwarding International Magazine

Dutch dredging company still interested in parts of SMIT

May 18 - In its latest trading update, Dutch dredging company Boskalis has made it clear that it is still interested in acquiring parts of SMIT International.

According to the trading update: "On January 29, Boskalis announced that it increased its holding in Smit Internationale N.V. to 25.07%. The interest that Boskalis has expressed in parts of Smit ensues from its value-driven growth strategy. Boskalis is mainly interested in the Smit businesses that fit within this strategic framework. By acquiring the terminal activities of Smit, Lamnalco can become a global market leader in terminal services. Besides this, Boskalis can extend and strengthen its rapidly growing and attractive offshore business with Smit."

On May 14th SMIT announced a net profit in the first quarter of 2009 of EUR 28 million.

In December last year, commenting on the news that Boskalis had abandoned its intention to make a public offer for SMIT, Ben Vree, CEO of SMIT said: "SMIT will continue its successful strategy of integrated maritime services, making optimal use of synergies between our divisions Harbour Towage, Terminals, Salvage and Transport & Heavy Lift. Today's announcement signals the end of a period of uncertainty for our company, our joint-venture partners and our employees."

Heavy Lift | News

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