Svitzer Merging Salvage Operations with Titan
- Business & Finance
AP Moller-Maersk’s marine towage company Svitzer has signed an agreement with Crowley Maritime Corporation to merge their respective salvage operations, Svitzer Salvage and Titan Salvage.
The merger will sea the creation of a new brand called Ardent that would specialize in wreck removal, Svitzer said in a statement. The company, to be headquartered in Houston, Texas would be owned equally by Svitzer and Crowley and is expected to start operation on 1 May.
Moreover, the company would have offices in the Netherlands, the UK and Singapore. The company will also have supporting offices in Australia, Brazil, South Korea, Greece, South Africa, among other regions.
“The company will become an industry leader in wreck removal and emergency response,” said Peter Pietka, Chief Executive Director of Svitzer Salvage.
“This merger brings together some of the most experienced, highly regarded salvage experts in the world. Our combined strength means we can provide a stronger network in key global locations, it means best practices shared globally and it means a broad range of proven marine capabilities that will best serve the maritime industry for a long time to come,” adds Chris Peterson, Vice President of Titan Salvage.
Pietka will resume his role as the head of the new company.
World Maritime News Staff