The joint company will be named Express Offshore Transport Pte. Ltd. (EOT). WW and SW will each own 50 percent. The company will be based in Singapore and have 80 shore based personnel. The company will be operational as of 1 November 2005 subject all relevant approvals being given.
The application for approval of the new joint company is being considered by the European Commission under the EC Merger Regulation.
- EOT will become a solid company which will be well-equipped to increase the quality and further improve the service vis-à-vis the customers, as well as ensuring that the increasingly high level of requirements from the authorities will be taken care of, says managing director Jesper T. Lok in SW.
EOT will after the merger deploy a fleet of 55 light supply vessels, ranging from 68 to 135 feet, of which 6 are under construction. The vessels will offer the oil industry in The Arabian Gulf and Asia offshore transportation of personnel and supplies to oil installations
- Together with SW, we look forward to further developing the company in a steadily growing market. EOT will be an important partner to the oil industry in the future, says senior vice president Arild B. Iversen in WW. Iversen is responsible for Wilhelmsen Offshore & Chartering AS, the WW company owning AMS.
EOT will be headed by managing director Diederik de Boer, who is appointed by SW. Arild B. Iversen from WW will be chair of the board.
Attached please find the press release dated 15 September in English and Norwegian.
» Link to press release dated 15 September 2005 (English)
» Link to press release dated 15 September 2005 (Norwegian)