Royal Boskalis Westminster

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Royal Boskalis Westminster N.V.
Type Naamloze vennootschap
Traded as EuronextBOKA
Industry Construction, services
Founded 1910
Headquarters Papendrecht, Netherlands
Key people Peter Berdowski (CEO), Herman Hazewinkel (Chairman of the supervisory board)
Products Dredging, land reclamation, maritime infrastructure, offshore construction
Revenue €2.674 billion (2010)[1]
Operating income €401.9 million (2010)[1]
Profit €310.5 million (2010)[1]
Total assets €4.315 billion (end 2010)[1]
Total equity €1.599 billion (end 2010)[1]
Employees 13,830 (end 2010)[1]
Website www.boskalis.com

Royal Boskalis Westminster N.V. is a Netherlands-based company that provides services relating to the construction and maintenance of maritime infrastructure on an international basis.[2] The company is claimed to have the world's largest dredging fleet.[3]

History[edit]

Boskalis (Bos & Kalis) was created in 1910 by a group of families. In between the two wars, Boskalis contributed to the Zuiderzee project. The company inked a contract in 1931 for the dredging of Bromborough Dock. In 1933, Boskalis partnered with the Westminster Dredging Company, which opened business opportunities with West Africa.

Boskalis became a public company in 1970.[4] Boskalis received the designation ‘Royal’ in 1978.[5]

In the 1980s economic and political circumstances forced Boskalis to concentrate on its core dredging business.[6]

More acquisitions followed in the 1990s. It also acquired a 40% interest in Archirodon Group.[7] During this period Boskalis was also involved in several major land reclamation projects. In Hong Kong the company worked on the major land reclamation project for the new Chek Lap Kok airport [6] and in Singapore it cooperated on a multi-year development program.[8]

In 2007 the company was engaged in two major contracts in Australia - a €300 million contract to deepen the shipping channels of Port Phillip in Melbourne utilising its dredge the Queen of the Netherlands, and a €50 million contract to expand the harbour at Newcastle [3][9] The company is also involved in a €1.1 billion contract to develop a new port in Abu Dhabi.[3]

On 15 September 2008 Boskalis offered €1.11 billion for fellow Dutch maritime company Smit International.[10] Despite the offer being promptly rejected by Smit's board, Boskalis subsequently built a stake of over 25% in the firm[11] and expressed a continuing desire to buy a number of its business units.[12] A revised offer of €1.35 billion was accepted by Smit in January 2010, with Boskalis declaring its offer unconditional that March.[13]

In 2011 Boskalis acquired MNO Vervat in The Netherlands.[14] Boskalis has around 15,600 employees, including their share in partner companies. They operate in over 75 countries across six continents, with a fleet that consists of over 1,100 vessels and equipment. Boskalis is accused of bribing Mauritian politicians to obtain the contract to dredge the Canal Anglais.[15]

In November 2012 Boskalis made an offer for Dockwise, a heavy transport shipping company.[16]

See also[edit]

External links[edit]

References[edit]

  1. ^ a b c d e f "Annual Report 2010". Boskalis. Retrieved 3 April 2011. 
  2. ^ "Company Profile: BOSKALIS WESTMIN". NYSE Euronext. Retrieved 2008-02-20. 
  3. ^ a b c Lucas, Clay; Ben Schneiders (2008-01-29). "Exposed: $500m bill for dredging". Melbourne: The Age. Retrieved 2008-02-19. 
  4. ^ Boskalis' history, Boskalis.com
  5. ^ Bouwens en Sluyterman, Verdiept verleden (2010) p.243
  6. ^ a b Bouwens en Sluyterman, Verdiept verleden (2010) p.323
  7. ^ Bouwens en Sluyterman, Verdiept verleden (2010) p.397
  8. ^ Bouwens en Sluyterman, Verdiept verleden (2010) p.361
  9. ^ "Boskalis wins 100 mln eur jv contract to expand coal export harbour in Australia". CNNMoney.com. 2008-01-22. Retrieved 2008-02-19. [dead link]
  10. ^ "Marine services company Boskalis to bid for Smit". Associated Press (CNBC). 15 September 2008. Retrieved 2008-09-15. [dead link]
  11. ^ Gray-Block, Aaron (2 February 2009). "Boskalis ups stake in Smit, could buy more shares". Reuters. Retrieved 2009-05-30. 
  12. ^ van Tartwijk, Maarten (14 May 2009). "Boskalis CEO: Ambition To Buy Several Smit Units". Dow Jones Newswires (The Wall Street Journal). Retrieved 2009-05-30. [dead link]
  13. ^ Roumeliotis, Greg (27 March 2010). "Boskalis clears Smit takeover milestone". Reuters. Retrieved 29 March 2010. 
  14. ^ Boskalis completes acquisition of MNO Vervat http://www.boskalis.com/press/news-archive/news-page/boskalis-completes-acquisition-of-mno-vervat.html
  15. ^ BOSKALIS: A Relative Of Siddick Chady Accused, Mopays, 23 June 2012
  16. ^ Boskalis announces intended offer on Dockwise http://www.boskalis.com/press/news-archive/news-page/boskalis-announces-intended-offer-on-dockwise.html