Van Seumeren takes control at MammoetNews // July 28, 2000
The transaction, announced in May and completed on 13 July, and applies retrospectively to 01 January 2000. The sale price for Mammoet - some 111 million Euros - is thought to have been well above the book value of the company.
Van Seumeren has acquired Mammoet in its entirety, including all of its activities in the US, Asia, the Middle East and Europe.
In the Netherlands, Van Seumeren has also assumed control of Mammoet Stoof, Mammoet Engineering & Innovation, Mammoet Ferry Transport (a ferry trailer service between the UK and the Continent), and acquired a 30 per cent interest in Mammoet Shipping.
As part of the deal, Decafin SpA in Italy has also sold its 33 per cent interest in Mammoet Decalift International.
Frances Van Seumeren has taken over a Chief Executive Office of the new company, and Frits Van Riet, previously Managing Director of Mammoet Transport, has assumed the role of Chief Operating Officer.
The new company will keep the Mammoet name, operating as part of the Van Seumeren Group, and will move to new offices at the former Wilton Feyenoord shipyard site late next year, where facilities including a deepwater quay will be available for both sea-going vessels and barges.
Van Seumeren's revenues in 1999 increased by 25 per cent compared with the previous year.