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Kotug Smit Towage sold to Boluda Group

Kotug International BV and Royal Boskalis Westminster NV have concluded the sale of Kotug Smit Towage to Boluda Group

 

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Kotug Smit Towage sold to Boluda Group

The sale is in line with the initial announcement of 4 March 2019.

 

By partnering with Boskalis’ subsidiary Smit in 2016, Kotug strengthened its presence in 11 ports in four European countries. The integration of businesses led to further growth, synergy and smarter towage operations.

 

In order to ensure the continuity of the business - given the consolidation of the shipping lines - Kotug feels that family-owned company Boluda is best positioned to add value to its existing European towage business.

 

Kotug’s CEO Ard-Jan Kooren said: “We thank all staff and crew for the professional and pleasant cooperation in the past years. I am confident that with the takeover of Kotug Smit Towage, Boluda will adequately respond to the further consolidation of shipping businesses in the European harbour towage industry."

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