March 7, 2006
TMM buys out Seacor interest in Marmex
Grupo TMM, S.A. (NYSE: TMM) and Seacor Holdings Inc. (NYSE: CKH) have announced that Grupo TMM purchased Seacor's 40% interest in Maritima Mexicana, S.A. de C.V. ("Marmex"), a joint venture company providing maritime offshore services in Mexico's Gulf Coast.
Additionally, Grupo TMM has purchased five offshore vessels owned by Seacor and has flagged them Mexican. These vessels are working under time charter contracts supporting offshore exploration and production activities in the Gulf of Mexico. The aggregate value of the transactions was approximately $57.0 million.
Grupo TMM and Seaco say they intend to maintain good relations in pursuing future business opportunities in the offshore Mexican market.