RNS Number : 2862P
Ocean Wilsons Holdings Ld
30 September 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 receives installation license (LI) for the construction of shipyard
Wilson Sons Limited ("Company") announces that it has been granted the Environmental License for Installation (LI) from FEPAM (Fundação Estadual de Proteção Ambiental) in relation to building a shipyard facility in the city of Rio Grande (RS). The project area located in the "Superporto" region of Rio Grande, has more than 120,000 square meters and require estimated capital expenditure of R$ 259 million (Two hundred and fifty nine million Brazilian Reais) to develop. When fully operational, we expect the shipyard to create 800 direct and 1,600 indirect jobs. Further approvals are required for the Company to initiate civil works at the site.
The Wilson, Sons Rio Grande Shipyard will focus on building offshore support vessels to service platforms. When the site is fully developed, the shipyard will have a steel processing capacity of 13,000 tons per year. The new shipyard facility along with the expansion of Wilson, Sons Guarujá (SP) shipyard will increase current capacity fivefold. The expansion of the Company's naval construction capacity will facilitate the strategy of building vessels to meet the demand driven by the growth in the oil and gas industry in Brazil.
Keith Middleton 1 441 295 1309
Seymour Pierce Limited 020 7107 8000
Guy Peters - Corporate Finance
David Banks - Corporate Broking
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