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 Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

BWM Convention Doesn't Resolve U.S. Issues - ICS

ICS notes that the IMO Secretary General has announced that the Ballast Water Management Convention will enter into force worldwide from 24 November 2016, following

Cruise Ship Trends

First Cruise Ships Dock at Abu Dhabi’s New Stopover

Abu Dhabi Ports─the master developer, operator and manager of ports and industrial zones in the Emirate―has started welcoming cruise liners at Sir Bani Yas Island,

Five P&O Cruise Ships Meet in Sydney

Sydney is the stage for the biggest get-together of a fleet of cruise ships ever seen in the harbor city.    Five P&O cruise ships have created a V-formation

Turbocharger Retrofits for Royal Caribbean

MAN PrimeServ informs it has won the contract from Royal Caribbean Cruises Ltd. (RCCL) to retrofit the turbochargers aboard four cruise liners from its fleet.   The

Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0792 sec (13 req/sec)