The end of an era

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The end of an era

Post by Henk » Wed May 31, 2017 3:49 pm

Press release issued stating Fairplay and Bugsier will merge with Fairplay taking over Bugsier
Henk de Winde

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Nick Smith
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Re: The end of an era

Post by Nick Smith » Thu Jun 01, 2017 3:03 am

The two traditional companies Fairplay and Bugsier have announced their intention to merge. The aim is to mutually further expand both these well known strong names in shipping and to continue strengthening the presence in Germany and Europe.
It is intended that Fairplay SchleppdampfschiffsReederei Richard Borchard GmbH will acquire the Bugsier-, Reederei- und Bergungs-Gesellschaft mbH & Co. KG in the second half of the year.

Thus both parties have signed a “Letter of Intent” (Absichtserklärung). The BugsierReederei will be completely taken up and continued as a brand in the corporate group of Fairplay-Towage. The timing for the merger is favourable for both parties.

The market for harbour assistance in Northwest Europe is extremely competitive. An internationally well established network will be crucial for this market in the future. For the further development of such a Network it is important to have the strong presence of Bugsier in the German market to ideally complement the strong presence of Fairplay in other European countries.

Consolidating the fleets of both companies will result in a flexible shipping partner, who is in a position to meet the requirements of clients and challenges brought by the future.

Furthermore Bugsier will contribute new business areas and expertise to the Fairplay Group. A prime example hereof is the ocean towage for the oil and gas industry and the offshore wind energy industry.

Both shipping companies have already cooperated successfully in the field of Emergency Towing Vessels (ETV’s). For both companies and their employees this step is therefore a huge opportunity to position themselves firmly in the market and to expand their business activities. With more than 100 tugboats, this new company group will have a strong presence in the North European market.

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