Royal Boskalis Westminster N.V. (Boskalis) and Royal Volker Wessels Stevin N.V. (VolkerWessels) have combined their forces in the field of offshore cable installation by establishing a 50/50 joint venture. The joint venture creates a strong party combining know-how and equipment allowing it to respond effectively to growth in the market for offshore cable installation projects, particularly in relation to offshore wind farms. Boskalis and VolkerWessels each hold a 50% stake in the joint venture Visser & Smit Marine Contracting Holding B.V. (VSMC) through Boskalis Offshore Subsea Contracting B.V. and VWS Civil and Offshore Constructions B.V., respectively. VSMC will have two cable-laying vessels at its disposal, the Stemat Spirit and Ndurance. The Ndurance is expected to be delivered at the end of this year. Both vessels are fitted with DP class 2 equipment with a cable turntable capacity of around 5,000 tonnes. Boskalis and VolkerWessels see great potential in the collaboration, given the market developments, VSMC's strong market position and the resulting strength by combining knowledge and equipment. Boskalis and VolkerWessels have already been working successfully together for some years on a project basis, for example on the installation of power cables for sizeable offshore wind farms such as Nordsee Ost and Meerwind in Germany and Westermost Rough and Humber Gateway in the United Kingdom. This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the offshore energy sector including subsea, heavy transport, lifting and installation (through Boskalis Offshore and Dockwise) and towage and salvage (through SMIT). It also has a strategic partnership in terminal services (Smit Lamnalco). With a versatile fleet of over 1,100 units Boskalis operates in around 75 countries across six continents. Including its share in partnerships, Boskalis has more than 11,000 employees. This press release can also be found on our website www.boskalis.com. FOR FURTHER INFORMATION Investor Relations: Martijn L.D. Schuttevâer ir@boskalis.com
Press: Arno Schikker press@boskalis.com T +31 78 6969310 F +31 78 6969020
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