Better Dredges Acquires W&S Dredge

Friday, May 26, 2006
Better Dredges, Inc., an affiliate of Dredging Supply Company, Inc., recently acquired W&S Dredge Manufacturer, a Michigan-based manufacturer, to expand its dredge product line.

Thomas Wetta founded Better Dredges, Inc. (BDI) in 2004 in order to allow Dredging Supply Company, Inc. to offer a mechanically driven dredge line to compliment its existing automated products. BDI was then created to offer a mechanically driven product without sacrificing DSC’s unmatched quality. DSC was not interested in creating a line that would compete with its existing automated products, but instead wanted to produce more options for the industry. Since its origination, BDI has been seeking an opportunity that would enable its growth in this extremely specific market.

Tom Stojsik, founder of W&S Dredge Manufacturer, had dealt with Thomas Wetta, founder of DSC and BDI, regularly over the years. The two founders had a long professional relationship and had grown to respect one another as they shared many common business values. Both DSC and W&S began as family-owned operations and have progressively grown by experimenting with new concepts. Both companies put their customer’s best interest first and strive to please them by providing highly engineered equipment that is proven throughout the industry.

When Stojsik recently decided to retire, he thought he would offer the company to DSC/BDI before putting it on the market. “I didn’t want to see my 38 years go to waste when I retired. I also felt an obligation to my employees and wanted to leave the company in the hands of experienced, trustworthy people that could maintain the quality W&S customers had learned to expect,” said Stojsik.

Stojsik contacted DSC’s President, Bill Wetta, and informed him of his decision to retire. After discussing the idea with Bob Wetta, DSC’s VP, Bill traveled to Michigan to thoroughly checkout the facility and to see how this chance could further BDI’s original mission. W&S produces a good product that supports BDI’s desire for growth. After careful consideration, the owners of BDI decided to proceed with the business acquisition. BDI believed that by purchasing W&S they could better define their niche in the mechanical dredge market.

The new line will eventually incorporate DSC’s engineering expertise, but in a product that does not have all the technological advancements. This line will not offer GPS tracking, automation or telemetry packages as standard features, but will still perform at the level the dredges are known. In the past, W&S has typically sold 4-6 units per year. Since the company’s acquisition, BDI hopes to increase those numbers to 6-10 units per year. Currently W&S has two units, an 8-Inch and 10-Inch model, under construction and BDI feels it will not be long before a customer scoops them up. By acquiring the already established company, DSC and BDI believe that they can now address the entire market by offering a complete product line of automated and mechanically driven dredging equipment.

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3863 sec (3 req/sec)