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July 2, 2017

Damen completes acquisition of Keppel Verolme shipyard

The Netherlands-based company Damen Shipyards Group's subsidiary Damen Shiprepair & Conversion (DSC) has completed the acquisition of Keppel Verolme shipyard from Keppel Offshore & Marine, which is located in the Rotterdam Botlek area.

The Netherlands-based company Damen Shipyards Group's subsidiary Damen Shiprepair & Conversion (DSC) has completed the acquisition of Keppel Verolme shipyard from Keppel Offshore & Marine, which is located in the Rotterdam Botlek area.

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Keppel Verolme shipyard and its 250 members of staff are set to begin working under Damen portfolio now the acquisition has been completed. Both companies entered the initial acquisition agreement in April.

DSC managing director Durk-Jan Nederlof said: “We look forward to joining forces with the Verolme yard and its people; the facilities and personnel are complementary to our existing organisation.

“This acquisition will enable us to serve our existing clients even better while opening up new opportunities.”

The Verolme yard features nearly 2km of quay capacity and comprises three dry docks, including one large dock measuring 405m x 90m.

The acquisition will significantly expand DSC’s portfolio and is expected to strengthen its repair and conversion activities across the regional ship repair and conversion market.

"We look forward to joining forces with the Verolme yard and its people; the facilities and personnel are complementary to our existing organisation."

Damen now owns four large repair yards within close proximity of the Port of Rotterdam.

The two yards in Rotterdam, in addition to Damen’s yards in Vlissingen and Amsterdam will closely cooperate to utilise their collective expertise and commercialise their combined capacity.

The synergy between the yards is expected to facilitate operations, while providing efficient and competitive services.

DSC already operates eight repair and conversion yards in the Netherlands, along with eight other facilities abroad.


Image: Damen acquires Keppel Verolme shipyard. Photo: courtesy of Damen Shipyards Group.

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IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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