RNS Number : 9186L
Ocean Wilsons Holdings Ld
08 August 2011
Ocean Wilsons Holdings Limited
Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.
Wilson Sons Limited announces that through its wholly-owned subsidiary Saveiros, Camuyrano Serviços Marítimos S.A., acquired three tugboats from Navemar Transportes e Comércio Marítimo Ltda. for 19 million Brazilian Reais and assuming associated debt of 17 million Brazilian Reais with the Banco Nacional de Desenvolvimento Social e Econômico ("BNDES").
The tugboats, equipped with azimuth thrusters, are Brazilian built and are being financed through the BNDES, as agent for the Fundo da Marinha Mercante (Merchant Marine Fund - FMM).
Wilson, Sons has one of the biggest tugboat fleets in South America, with presence in all major Brazilian ports. This acquisition is part of the Company's strategy to increase and renew its fleet in order to meet the demand driven by growth in the oil and gas industry and international trade flow, ensuring competitiveness in the expansion of our towage operations.
Keith Middleton 1 441 295 1309
Seymour Pierce Limited 020 7107 8000
Guy Peters - Corporate Finance
David Banks - Corporate Broking
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