Boskalis expands market position in marine survey through acquisition Horizon
21 Février 2019 - 8:00AM
Papendrecht, 21 February 2019
Royal Boskalis Westminster N.V. (Boskalis) has
acquired a 62.5% majority stake in the Horizon Group (Horizon) from
the United Arab Emirates. Horizon's main activities include marine
geophysical surveys and geotechnical services.
Peter Berdowski, CEO Boskalis, "Through this transaction, we are adding an important
strategic position to our existing marine survey and subsea
geotechnical business. Horizon is a market leader in the Middle
East and we are committed to continuing and expanding the high
quality of services they deliver to their clients. Furthermore,
Horizon with its strong market position in the Middle East, makes
this addition highly complementary to the position we hold through
Gardline in Northwest Europe."
Horizon operates seven large survey/geotechnical
vessels, of which three are on a long term charter, in addition to
five smaller survey vessels, two jack-up platforms, three
motion-compensated drill towers for geotechnical services and eight
ROVs.
The remaining 37.5% of the shares are held by the
incumbent management. The revenue level in the financial year
2018/2019 is expected to exceed USD 100 million.
Horizon was established in 2004 and is located in
Sharjah in the UAE. Its activities are largely based in the Arabian
Gulf and the Red Sea with clients ranging from national oil
companies as well as reputable international EPCI contractors to
the oil and gas industry.
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. Core activities, including coastal
defense, riverbank protection and land reclamation, allow Boskalis
to provide adaptive and mitigating solutions to combat the impacts
of climate change, sea level rise and to deliver solutions for the
increasing need for space in coastal and delta regions in the
world. The company facilitates the development of offshore energy
infrastructure, including renewables. It is furthermore active in
the construction and development and maintenance of ports,
waterways, access channels and civil infrastructure, contributing
to improved trade flows and the socio-economic development of a
region. In addition, Boskalis is a global marine salvage expert and
has a number of strategic partnerships in harbor towage and
terminal services (Kotug Smit Towage, Keppel Smit Towage, Saam Smit
Towage and Smit Lamnalco). With a versatile fleet of more than 900
vessels and floating equipment and 10,700 employees, including
associated companies, Boskalis is building new horizons in 90
countries across six continents.
pdf version press release
This
announcement is distributed by West Corporation on behalf of West
Corporation 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
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