Wijsmuller completes acquisition Company News
// March 6, 2000
Following an announcement in mid-January by the Wijsmuller Group that a sale and purchase agreement had been agreed to enable the company to acquire Cory Towage, part of the Ocean Group plc, based in the UK, the company has announced that the transactionhas now been completed.
Shares in Cory Towage were transferred to Wijsmuller for £81.8 million. Cory Towage will now operate as a wholly owned subsidiary of Wijsmuller, and will be known as Wijsmuller Marine Ltd.
The acquisition of Cory Towage gives Wijsmuller the opportunity to expand rapidly in towage as well as offshore-related activities.
Cory Towage has a fleet of more than 60 tugs, and is active in the UK, Canada, Venezuela, Oman, Eire and Lithuania.
Wijsmuller has towage activities in 20 countries and is active worldwide in the marine services field and in salvage operations. It has a fleet of more than 145 tugs.
More articles from this category
More newsProjects and Operations // May 27, 2016Contracts, Tenders and Rates // May 27, 2016Company News // May 27, 2016Training // May 27, 2016Equipment & Technology // May 27, 2016Company News // May 26, 2016Equipment & Technology // May 26, 2016Company News // May 26, 2016Company News // May 26, 2016Company News // May 26, 2016Projects and Operations // May 25, 2016Contracts, Tenders and Rates // May 25, 2016Company News // May 25, 2016Company News // May 25, 2016Company News // May 25, 2016