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Ocean Wilsons Hldgs (OCN)

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Friday 03 September, 2010

Ocean Wilsons Hldgs

Re Contract

RNS Number : 1396S
Ocean Wilsons Holdings Ld
03 September 2010

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 (BM&FBovespa: WSON11, the "Company") announces to all its shareholders the signing of the amendment to the TECON Salvador lease contract with the Companhia das Docas do Estado da Bahia (CODEBA), effective as of September 2nd, 2010. The amendment to the TECON Salvador lease contract referenced in the Material Fact released on August 9th, 2010, contemplates the extension into the area called "Ponta Norte" of Salvador's Port, adjacent to TECON Salvador. The "Ponta Norte" area includes an additional quay of 167m and retro-area of 44,000m². The amendment to the TECON Salvador lease contract includes a down-payment to CODEBA of R$25 million (twenty five million Reais) with monthly rental price based on the new area and a price per-container or cargo movement consistent with the original TECON Salvador lease contract.

Wilson, Sons history of contribution to the development of Brazilian maritime trade in the city of Salvador dates back more than 173 years with the formation of the company. The expansion represents an important investment in the development of the future of trade capacity for Salvador, Bahia and the Northeast of Brazil. This expansion together with public dredging of the access channel from 12 to 15 meters, will allow the efficient access of Post-panamax ships that can measure in excess of 300 metres in length and are capable of transporting up to 9,000 TEUs at a time. The public dredging is expected to be completed by the end of the year. Additionally, the planned new expressway connecting the federal highway BR-324 to the Port of Salvador will further facilitate cargo movement for TECON Salvador and surrounding area. 

Now in its 11th year of operation, TECON Salvador has grown considerably to handle 232,000 TEUs in 2009 and employ staff of 520 people. The main products handled in the terminal are petrochemicals, rubber, tires, cellulose, fruits and automotive parts. Europe, USA, and China are the destinations for the majority of the exported product.

With estimated population of nearly 14 million inhabitants, Bahia has gross domestic product (GDP) of R$110 billion (one hundred and ten billion Reais) making it the sixth largest Brazilian state economy, based on GDP data from the 2007 Regional Accounts Report, published by the Brazilian Institute of Geography and Statistics.

About Wilson Sons

Wilson, Sons, through its subsidiaries, is one of Brazil's largest providers of integrated port and maritime logistics and supply chain solutions. With a business track record of over 173 years, the Company has developed an extensive national network and provides a comprehensive set of services related to domestic and international trade, as well as to the oil and gas industry. Its principal operating activities are divided into the following lines of business: Port Terminals, Towage, Logistics, Shipping Agency, Offshore, and Shipyards. For more information, please visit our website


Rio de Janeiro, September 2, 2010

Felipe Gutterres Ramella
Legal Representative and Investor Relations

This information is provided by RNS
The company news service from the London Stock Exchange