Wilson Sons Limited (Wilson Sons) is in an advanced stage of analysis of the impacts of a fire which occurred in the Guarujá II shipyard warehouse on Wednesday, May 15, 2013. The Company holds insurance policies covering the damage to the warehouse and materials inventory used in the shipbuilding process.
The Company’s insurers were activated immediately after the incident and are conducting the claims process with an expected deductible for Builder’s Cost insurance, fixed per vessel, and for damage to Property, together estimated at one million Brazilian reais.
The Company considers that the eventual delay in the delivery of vessels will be limited due to the similarity of components previously ordered for subsequent vessels to be built. There were no injuries as a result of the fire.
Wilson Sons maintains full insurance coverage aimed at the prevention and protection against risks inherent in their operations, taking into account mainly the assets of its clients, its facilities and equipment, and continuity of operations. Insurance policies are contracted with accredited insurers and renewed periodically, following Company policies and procedures.
[mappress]
Press Release, June 14, 2013