10 April 2017

Damen Shipyards Group has entered into an agreement with Keppel Offshore & Marine for the acquisition of the Keppel Verolme shipyard in the Rotterdam Botlek area.

With the acquisition of the Verolme shipyard, Damen takes the next step in strengthening its repair and conversion activities within the regional ship repair and conversion market. Since 1957 the Verolme yard has been active in the Botlek area of the Port of Rotterdam with three graving docks, a quay capacity of over 1,800 metres and approximately 250 employees. With the largest dock measuring 90 x 405 metres Damen will gain capacity to cater for the largest maritime objects. Currently, Damen’s biggest dock in the Netherlands is located at Damen Shiprepair Rotterdam and measures 46 x 307 metres. Damen intends to continue activities in the Botlek area with the current employees of the yard.

With the Verolme yard, Damen will have four large repair yards within close proximity of the Port of Rotterdam. The two yards in Rotterdam, along with Damen’s yards in Vlissingen and Amsterdam, will closely cooperate to maximise the use of each other’s expertise, further developing synergy advantages and jointly marketing their capacity, with the objective to offer more efficient and competitive services.

A notification of the proposed transaction has been filed with the Dutch Authority for Consumers & Markets on 10 April 2017. The targeted timeline to close the transaction is by the end of the second quarter 2017.

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