HBG, Ballast Nedam Combine Dredging Ops

Wednesday, June 27, 2001
Dutch construction firms Hollandsche Beton Groep (HBG) and Ballast Nedam signed a contract to merge their dredging operations. The joint operation, Ballast HAM Dredging, would have sales of 635 million euros ($548 million) and about 2,000 employees. Ballast, a relatively small player in dredging, said it would hold a third of the shares in the new company which would see it achieving its required industry scale. HBG's move has angered a substantial number of its shareholders, although it believes it does not require their approval. On Tuesday, HBG shareholders said they would request a court inquiry into the firm's strategy after HBG said the planned deal with Ballast was irreversible. Builder Heijmans, which is interested in buying HBG's construction arm, said in a brief statement it regretted that HBG and Ballast had signed a contract, adding the company would remain open to further negotiations. Earlier on Wednesday, both Heijmans and dredger Boskalis, which is after HBG's dredging arm, said they would await the outcome of the court inquiry which could result in an order to freeze setting up the HBG-Ballast Nedam joint venture. "The outcome of that legal procedure will decide whether we will throw in the towel," Heijmans' chief executive Joop Janssen said. - (Reuters)
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Matson Announces Quarterly Dividend

Matson, Inc. declared a first quarter dividend of $0.17 per common share, the company’s board of directors announced. The dividend will be paid on March 5, 2015

Hogan Named VP at Newport News Shipbuilding

Rob Hogan has been appointed vice president of manufacturing at the Newport News Shipbuilding division of Huntington Ingalls Industries (HII), the company announced.

Kongsberg Expands Louisiana Office, Training Facility

Kongsberg Maritime has purchased approximately 5.2 acres for new construction on an 82,980 sq ft office and training facility. Construction on the James Business

Cruise Ship Trends

Disney's 'Frozen' Coming to the High Sea

Disney Ship is “Frozen” in Alaska. Nay...The ships are not really stuck — being “Frozen” is all about Disney’s blockbuster movie and it’s now spreading to the ships especially,

GE Powers Diadema Cruise Ship

Fincantieri shipyard to equip in-board propulsion for Carnival and Costa vessels, GE’s Power Conversion business has helped the shipyard successfully deliver the

Carnival, China Merchants Sign MOU

MOU will explore both Port & Destination Development and Ship-Owning joint ventures with the goal of potentially launching China’s first world-class domestic cruise brand.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.1484 sec (7 req/sec)