Boluda towage set to acquire Smit LamnalcoWritten by Nick Blenkey
In a move that will see it emerge as an even bigger international towage leader, the Boluda Towage division of Madrid headquartered Boluda Corporación Marítima reports that it has reached an agreement to acquire Netherlands-headquartered Smit Lamnalco.
Owned 50/50 by Boskalis Group and Saudi Arabia’s Rezayat Group, Smit Lamnalco employs more than 1,600 people and owns 111 vessels. Boluda Towage has locations in 148 ports and operates a fleet of more than 600 tugboats in 50 countries on all continents, with 6,000 employees. The division also offers tug and salvage operations on the high seas.
The acquisition, which is still subject to regulatory approvals in several countries, will accelerate the expansion of Boluda Corporación Marítima worldwide, reaching strategic markets where Smit Lamnalco has a strong presence such as Australia, the Middle East, and West Africa.
Vicente Boluda Fos, Chairman of Boluda Corporación Marítima states: “Boluda is a company that has never stopped growing and transforming itself. This new stage is the logical consequence of previous evolutions that, over the last few years, have made us number one in port logistics services and in the towage sector. The industry is at a turning point, impacted by the climate emergency and geopolitical tensions. Shipping is at the center of these issues, facing challenges like never before. As a global leader, we are aware of our responsibilities and we will continue to commit to sustainable development, which benefits society and its development”.
“Smit Lamnalco is a solid company with more than 55 years of operational experience, present in more than 20 countries and with more than 1,600 employees worldwide. I have no doubt that this operation will be fruitful for both parties and especially for our customers who will benefit from a consolidated team, a diversified offer, and a greater capacity for intervention and innovation,” says Vicente Boluda Ceballos, Deputy Chairman at Boluda Towage.