Papendrecht, 16 July 2009
Royal Boskalis Westminster N.V. has secured a new 350 million credit facility. The main purpose of the new facility is to finance the reinforcement and expansion of activities.
Peter Berdowski, CEO:
"Boskalis' financial position continues to be strong. We are net debt free, have a solid cash position and expect to be able to finance ongoing investment commitments from our operating cash flow. The new credit facility gives us the financial resources to further strengthen the business, and where possible expand it through targeted acquisitions."
The committed credit facility, with a maturity of three years, is provided by a group of seven banks consisting of Rabobank, ING, Friesland Bank, RBS, Deutsche Bank, Fortis and BNP Paribas.
The Boskalis strategy is designed to benefit from the key macro-economic drivers that are fueling global demand in our selected markets: global trade, increasing energy consumption, expanding population pressures and the challenges of changing climate conditions.
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. Boskalis provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 10,000 employees.
For further information please contact:
Martijn L.D. Schuttevâer
Director of Investor Relations & Corporate Communications
Telephone: +31 78 69 69 822
Telefax: +31 78 69 69 020