Inchcape Shipping Services (ISS) has fully acquired Fawley-based agency Furness Marine Services Ltd (FMS), the second major acquisition it has completed in 2004. ISS is now 12 months into its two-year plan to double the size of its business through organic growth and strategic acquisitions. Following last month’s acquisition of the Ancon depot facility in the Port of Antwerp and several mergers and acquisitions completed in 2003, that plan is well on schedule to be met or exceeded within the expected timeframe. Independent shipping agency FMS was the result of a management buyout of Furness Withy Agency in 1993. Furness Withy had held a contract with Esso since 1985 and FMS has continued working with the international oil and gas major ever since.
