Royal Boskalis Westminster N.V. (Boskalis) has announced that Smit Lamnalco, a 50% owned associate, has strengthened its position in Australia through the acquisition of PB Towage Australia (PB Towage).
PB Towage is the second largest player in Australia with activities stretching from Melbourne to the Cape York Peninsula. Following this transaction, Smit Lamnalco will be active in eight ports in Australia with a total of 29 vessels offering a combination of harbour towage, terminal and FPSO-related services.
The acquisition is in line with Boskalis’ strategy to develop its position in the towage market through partnerships such as Smit Lamnalco and to grow through regional consolidation opportunities.
For Smit Lamnalco, this acquisition will create opportunities to achieve market synergies for its existing activities in the region.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/floating-lng/12122014/smit-lamnalco-acquires-pb-towage-australia-1950/