KOTUG and Boskalis sell Kotug Smit Towage shares to Boluda Group (Boluda)
KOTUG International BV and Royal Boskalis Westminster N.V. have successfully concluded the sale of Kotug Smit Towage to Boluda Group (Boluda), 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 4 European countries. The integration of businesses led to further growth, synergy and smarter to wage operations. In order to ensure the continuity of the business-given the consolidation of the shipping lines – KOTUG feels that the family-owned company Boluda is best positioned to add value to their 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”. KOTUG International will continue to focus on international operations and investing in future innovations. Headquartered in Rotterdam, they have a strong presence in Europe, Russia, Asia, Australia, Africa and the Caribbean, demonstrating ambitious aspirations to continue expanding its activities worldwide, offering innovation and operational excellence to their customers.