Boskalis strengthens its offshore cable installation position through German acquisition
21 Dezember 2018 - 7:30AM
Papendrecht, 21 December 2018
Royal Boskalis Westminster N.V. (Boskalis) has
reached an agreement with SPIE for the acquisition of the offshore
cable installation activities and assets of Bohlen Doyen GmbH
(BoDo). BoDo's offshore cable laying business operations comprise
of grid to grid and offshore substation to shore connections, which
includes the installation of (nearshore) offshore cables and the
connection of offshore wind farms to substations.
BoDo, based near Wilhelmshaven, has a
long-established position in the German offshore cable installation
market. Its offshore activities generate an annual turnover of EUR
20-30 million. The agreed transaction does not include any goodwill
and will be financed from Boskalis' own cash flow.
The scope of the transaction includes the
acquisition of the equipment, burial tools, personnel plus several
smaller commercial and maintenance contracts. The most important
assets are three large cable laying barges with capacities ranging
from 800 to 4,000 metric tons. The technical specifications of
these vessels make them ideally suited for the installation of
export cables in sheltered water and the rapidly growing cable
repair market. BoDo's track record includes the cable installation
on projects including BorWin 3, DolWin 3 and NordLink. As
subcontractor to Prysmian BoDo was involved in the first phase of
the Ostwind project for 50Hertz. Recently Boskalis received the
award for Ostwind 2 for which BoDo is well-positioned to execute
the nearshore activities.
Through this acquisition, Boskalis strengthens its
position in the offshore cable market forming a welcome addition
following a string of recent large contract wins by Boskalis.
It is the intention to close the transaction in
the first quarter 2019 subject to the satisfaction of customary
conditions.
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 oil and gas sector and offshore wind industry as well as
salvage solutions. Furthermore, Boskalis 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 operates in 90 countries across six
continents.
This press release can also be found on our
website www.boskalis.com.
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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