KOTUG finalises acquisition of Seaways International
As a result, Seaways is now a 100% owned subsidiary of the KOTUG Group of Companies.
KOTUG International B.V. (KOTUG) announces the successful closure of the intended acquisition of SEAWAYS INTERNATIONAL (Seaways).
The acquisition of Seaways brings together the assets, expertise and people of two leading companies that support the worldwide floating facility business such as FSO, FPSO, FLNG, FSRU and SPM Terminals. With all customary, governmental, and other required approvals, KOTUG will now focus on the integration of Seaways and strengthening its leading presence in the floating offshore market.
The founder and former owner of the family-owned Seaways, Captain Ashish Nijhawan will be stepping down from his role as Managing Director effective immediately. Under his leadership, the company has been built from scratch to become the thriving business it is today. Owning and operating an impressive fleet comprising DPS-2 capability AHT's, Fast Crew Suppliers (Crew Boats for Passenger Transportation) and Cargo Barges, and also providing terminal management services.
Ard-Jan Kooren, President & CEO of KOTUG:
"It is with great respect that we say goodbye to Captain Ashish Nijhawan, his sons and wife, whose accomplishments have been outstanding. Today, we welcome 340 new colleagues into the family-owned KOTUG Group of Companies, whose corporate cultures and values are very similar and compatible."
Captain Ashish Nijhawan said:
"I am very proud of the company we have built, and I am incredibly thankful to everyone who has worked to support our journey. I have deep trust in a bright future for Seaways under the leadership of KOTUG executing their vision to be the world's leading towage and maritime service provider."