Tugboat Financing

RNS Number : 0851R

Ocean Wilsons Holdings Ld

14 November 2012

 

14 November 2012

Ocean Wilsons Holdings Limited

Our principal operating subsidiary, Wilson Sons Limited, has announced to the Brazilian and Luxembourg Stock Exchanges the following announcement regarding the financing and construction of 12 new tugboats:

Wilson Sons Limited ("Company") announces to all its shareholders that its wholly-owned subsidiary Saveiros Camuyrano Serviços Marítimos S/A ("Saveiros") signed a financing agreement with Banco do Brasil S/A ("Banco do Brasil"), as agent for the Marine Merchant Fund ("FMM"). The contracted amount of US$135million will finance 12 new tugboats with azimuth thrusters. All 12 tugboats will be constructed in Wilson Sons' shipyard and are expected to be delivered by the end of 2016.

This 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.

Company Contact

Keith Middleton                                     [phone]

Seymour Pierce Limited                           020 7107 8000

Guy Peters - Corporate Finance

David Banks - Corporate Broking

 

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