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Towage majors merge European activities

Dutch Boskalis merges its North European towage activities in subsidiary Smit with Kotug International after a year characterized by several new partnerships in the sector.

Photo: Dietmar Hasenpusch/Hamburg Port of Marketing

Dutch towage and salvage giant Royal Boskalis Westminster is merging its European towage activities with Kotug International. The two parties signed a Memorandum of Understanding at the end of 2014 for a joint venture, which is now formalized in the merger, write Boskalis and Kotug in a statement.

The two companies' activities will be transferred into a 50/50 joint venture with the Boskalis subsidiary Smit and Kotug under the new name of KOTUG SMIT Towage.

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