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11 August 2020 The on-line newspaper devoted to the world of transports 23:44 GMT+2

August 1, 2019

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Boluda Towage has carried to term the acquisition of the Kotug Smit Towage

The fleet of the Spanish operator salt more than 300 tugs

The Dutch Royal Boskalis Westminster and Kotug International have carried to term the cession of the society of towing Kotug Smit Towage to the Boluda Spanish(on 4 March 2019). Boskalis has confirmed to have cash received 93,6 million euros for the sale of own quota in joint venture 50:50 Kotug Smit Towate that is constituted in 2016(on 23 December 2015).

Boluda has emphasized that the acquisition operation, of the value of 300 million euros, strengthens the position of the Spanish group as operating leader in the field of the towing in Europe, in which work through the division Boluda Towage, and moreover widens ulteriorly the services to international level of the company in the field of marine safety to the main ports of nations of the Europe North between which Belgium, Germany, Holland and the United Kingdom. The Iberian group has moreover evidenced that the operation re-enters in the plan of international expansion of Boluda Towage marked from the acquisition in 2017 of the Urag German(on 21 February 2017) and started the slid decade with the scope to acquire societies that operate in the Americas, in France, on the western coast of Africa and in the Indian Ocean.

With the 67 tugs of the Kotug Smit Towate, the consistency of the naval means fleet of the Boluda Towage salt to beyond 300 units.

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