Les Abeilles operates 66 tugs in the leading ports and terminals of France, the Indian Ocean and along the African coastline. The company is acknowledged on an international level for its expertise and boasts a workforce of over 1,000. The sale of stock in the companies concerned would not have any impact on employees, who would retain their status, seniority and benefits. The project is currently under instruction and consultation by the staff representative bodies of the companies concerned.

Bourbon emphasize that the plan concerns harbour towage only and does not include the Emergency Towing Vessels (ETVs) employed to protect the French coastline. Those vessels, chartered by the French navy and operated by Les Abeilles International, will remain part of Bourbon.

In Bourbon’s view; ‘The acquisition plan is an opportunity for Les Abeilles to grow and expand its harbour towage operations. The size and international presence of harbour towage operators have become decisive factors for success in a market in which many cases of consolidation have been observed in recent months. The plan would therefore be totally relevant in view of the companies’ complementary geographical fields of operation, added to the reputation of the buyer, who has clearly demonstrated his intention to invest and become a major player in harbour towage.’

Grupo Boluda Corporación Marítima is a European holding company boasting a growing portfolio that specialises in maritime services. Boasting a fleet of 127 modern tugs located in ports in Spain and Latin America (Mexico, Panama, Venezuela, Argentina, Uruguay and the Dominican Republic), the group has a workforce of 3,000 and reported a turnover in 2006 of €490m. In addition to harbour towage the group is also present in sea container transport and shipbuilding.