Canada-based maritime company Ocean Group has acquired Verreault shipyard, situated in the municipality of Les Méchins in the Gaspé Peninsula, for an undisclosed sum.

Established in 1956, Verreault shipyard has expertise in ship repair and conversion.

Claimed to be one of the key shipyards in the eastern part of Canada, the shipyard features a 244m-long and 56m-wide dry dock.

Ocean Group has added the two Verreault tugs, which presently serve Les Méchins and Matane docks, to its fleet.

The acquired shipyard will enable Ocean Group to further increase its capacity.

With this deal, roughly 100 workers will be added to Ocean Group’s workforce.

Verreault shipyard will also complement Ocean Group’s facilities at Isle-aux-Coudres.

Ocean Group president and CEO Jacques Tanguay said: “Combining our expertise with that of Verreault Shipyard is a concrete example of our desire to increase our service offering for the benefit of our customers.

“The synergy of our respective strengths, the sum of our experiences and the competence of our teams allow us to approach this new milestone in our growth with confidence.

“For our 50th anniversary, we are giving ourselves all the tools we need to better face the exciting challenges that the future promises.”

With more than 1,000 employees, Ocean Group conducts operations in British Columbia, Ontario, Alberta, Quebec and the Caribbean.