July 19, 2007
Bourbon to sell harbor towage operation
As part of its Horizon 2010 strategy plan, in which the lionŐs share of investment is in offshore oil and gas marine services, Bourbon has announced that Madrid-headquartered Grupo Boluda Corporacion Maritima plans to purchase Bourbon's Les Abeilles harbor towage activity.
Bourbon says the acquisition plan is an opportunity for Les Abeilles to grow and expand its harbor towage operations.
The size and international presence of harbor towage operators have become decisive factors for success in a market that has recently seen many cases of consolidation.
"The acquisition plan would therefore be totally relevant in view of the companiesŐ complementary geographical fields of operation, added to the reputation of the buyer, which has clearly demonstrated its intention to invest and become a major player in harbor towage," says Bourbon. "The sale of stock in the companies concerned would not have any impact on employees who would retain their status, seniority and benefits."
Bourbon says the planned sale is limited to harbor towage only, and does not include protection of the French coastline by vessels chartered by the French navy and carried out by Les Abeilles International which will still be part of Bourbon.
The project is currently under instruction and consultation by the staff representative bodies of the companies concerned.