Crowley to Acquire Titan Maritime

Thursday, September 29, 2005
Crowley Maritime Corporation Chairman, President and CEO Tom Crowley Jr. announced last night at the International Salvage Union's annual dinner that Crowley has reached agreement with the owners of Titan Maritime, LLC to acquire the company. The deal is expected to close within the next 30 days. Crowley made the announcement to an audience of about 60 salvors from around the world who had gathered for dinner at the Columbia Tower Club in Seattle as part of the weeklong International Salvage Union's annual conference. He said additional details would be provided after the closing. Titan, founded in 1980 by David Parrot, is a worldwide salvage company that is headquartered in Ft. Lauderdale, Fla., with offices in Newhaven, UK and Sao Paulo, Brazil and equipment depots in Batam, Indonesia and Dubai, UAE. Over the past 25 years, Titan has performed more than 200 salvage and wreck removal projects worldwide.

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