Ocean Group Acquires Verreault Shipyard

Ocean Group announced it has acquired the Verreault shipyard, located in the municipality of Les Méchins, in the Gaspé Peninsula, on Canada's east coast.

Founded in 1956, Verreault Shipyard specializes in ship repair and conversion. 

With this transaction, Ocean Group adds capacity and grows its workforce by a hundred. The Gaspé Peninsula shipyard is equipped with a 244-meter-long and 56-meter-wide dry dock. Ocean Group is also adding to its fleet the two Verreault tugs that currently provide service at the Les Méchins and Matane docks.

Jacques Tanguay, President and CEO of Ocean Group, said, "Combining our expertise with that of Verreault Shipyard is a concrete example of our desire to increase our service offering for the benefit of our customers. The synergy of our respective strengths, the sum of our experiences and the competence of our teams allow us to approach this new milestone in our growth with confidence. For our 50th anniversary, we are giving ourselves all the tools we need to better face the exciting challenges that the future promises."

Richard Beaupré, President and Chief Operating Officer of Verreault Shipyard, said, "We share the same corporate values and a common vision for the industry with Ocean Group. A vision that is synonymous with prosperity for our shipyard, where our expertise will be put to good use in the many current and future projects. The best way to envision the future and sustainability of our company was to join Ocean Group."