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    IHC Holland Merwede takes majority stake in new facility

    Yard News // March 8, 2007

    IHC Holland Merwede has announced that the Group has decided
    to participate as a majority shareholder, together with Van
    Sluisveld Beheer, in a new company, Verenigde Scheepswerf Heusden BV (VSH), which is based in Heusden in The Netherlands on the site of the former Heusden Shipyard.

    VSH will take over nearly all 75 permanent employees that were already working at the location.

    VSH will rent the real estate from Van Sluisveld.

    The facility includes significant production and pre-fabrication facilities as well as two slipways.

    "Based on the current orderbook and the market outlook IHC Holland Merwede is in need of expansion of, in particular,
    pre-fabrication and section building capacity," said the company in a statement.

    VSH will concentrate primarily on preparing and section building for the other IHC Holland Merwede yards. In addition both slipways offer the possibility to build complete vessels.

    On slipway West vessels up to approximately 35.5m breadth and 185m length can be built. On slipway East vessels can be built of up to 25.5m breadth and 185m length. Both slipways can be lengthened, by 20m and by 10, respectively.

    At present, a river cruise ship is on the slipway and sections for other Dutch yards are being built, and it is the company's intention to start building sections for IHC Holland Merwede at the beginning of April.


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