December 15 - Italy's growing engineering, testing, marine services and ship classification group RINA has acquired a majority stake in Montreal-based marine survey company Hayes Stuart.
The move gives RINA Services a platform for further expansion into the growing market in Canada.
Stefano Socci, general manager Americas, RINA Services, says, "Hayes Stuart is a well-established Canadian marine survey company with expertise that complements ours. We see the marine market growing in Canada and Hayes Stuart together with RINA will be well placed to expand with it."
Hayes Stuart has offices in Montreal, Toronto, Quebec City and Halifax and employs fifteen full-time marine experts. It provides a range of commercial marine services including hull and machinery surveys, condition surveys, bunker and cargo surveys, loss prevention surveys. It also provides services for the loading and securing of project and heavy lift cargoes to ships, barges, trucks and trains.
Hayes Stuart will maintain its brand and operate as a RINA group company. The acquisition reflects RINA's strategy of growing by acquiring high quality companies with complementary expertise which also provide access to new markets.
Richard Breton, president, Hayes Stuart Inc, says, "I am very excited to join forces with the RINA Group as this marks a new chapter in Hayes Stuart's marine history. I am confident that this strategic move will prove to be very successful in expanding RINA's wide range of services throughout Canada and worldwide."