JUNE 3, 2016 — Houston headquartered Ardent, the company created by the merger of Crowley Maritime's Titan Salvage and the Maersk Group's Svitzer Salvage, has just celebrated its first birthday.
"One year ago, we set off with our business plans, and today we are pleased that the merger has progressed in line with these plans" said Ardent CEO Peter Pietka, "although the market has been weaker than expected," he added.
Prior to the merger, Svitzer Salvage specialized in emergency preparedness and response, while Titan specialized in large projects. Ardent complemented the strengths of Svitzer Salvage and Titan to develop one of the most robust service offerings in the worldwide salvage industry.
Now, Ardent has become a leading services company with an extensive network, offering innovative solutions to the shipping and offshore industries.
"The integration of the two companies has gone well, and the merger targets have been achieved," said Mr. Pietka.
In its first year, Ardent won and executed more than 50 contracts with a strong safety performance, and no loss-time incidents in its first year.
"The current markets in the shipping and offshore sectors have affected our margins," said Mr. Pietka.
"Looking from a different perspective," he continued, "the current oil and gas market provides us with a large opportunity to focus on offshore decommissioning. With the amount of knowledge and diversity between our partners and staff, and with a successful integration behind us, we look forward to the exciting years ahead."