Boskalis Completes Acquisition of STRABAG Wasserbau

Royal Boskalis Westminster N.V. (Boskalis) has concluded the acquisition of the dredging activities and assets of STRABAG Wasserbau GmbH. The transaction price of EUR 70 million has been financed from Boskalis' own cash.

With the transaction Boskalis acquires the equipment, personnel and relevant contracts of STRABAG Wasserbau. The most important assets are two young trailing suction hopper dredgers with a capacity of 7,350 m3 each, a large modern backhoe dredger and four self-propelled barges.   
 
Through this acquisition, Boskalis strengthens its home market position in Germany where it recently acquired a contract together with Züblin AG from the Bremen port authority for the construction of a transshipment terminal for the offshore wind sector in Bremerhaven. Boskalis' share of the contract carries a value of more than EUR 35 million. The dredging of three million cubic meters of sand by a medium-sized trailing suction hopper dredger forms part of the activities that are expected to commence at the end of 2016 and will take two years.