SMIT Acquires GB Diving

September 12, 2007

SMIT has acquired all shares of GB Holding B.V., the parent company of the renowned subsidiaries GB Diving B.V. and GB Diving -Inshore B.V. GB Diving is a Dutch company that provides ROV (Remote Operated Vehicles) and diving services, including project management, project engineering and related services for the high end of the oil and gas market. GB Diving's 30 employees will be integrated into the SMIT organization as a business unit named SMIT Subsea Europe. This new business unit will join SMIT Subsea Africa and SMIT Subsea Middle East, becoming the third regional subsea center in the subsea network. For SMIT, this acquisition represents not only the addition of ROV technology and expertise to its range of services, but also a geographical expansion of its subsea activities, helping it to better serve its customers worldwide. This acquisition will not affect the jobs of any SMIT employees, nor those of GB Diving employees.

SMIT Acquires GB Diving

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