Royal Boskalis Westminster N.V. announced that Smit Lamnalco, a 50% owned associate, has substantially 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 along the Eastern coast stretching from Melbourne to the Cape York Peninsula. Following this transaction, Smit Lamnalco will be active in 8 ports in Australia with a total of 29 vessels offering a combination of harbour towage, terminal and FPSO-related services.
The acquisition follows the 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.