By
Alex Smith |
British aluminium shipbuilder Wight Shipyard Co. is to merge with multinational shipbuilder OCEA to create a combined group for fast ferry and offshore renewable energy opportunities.
The deal is scheduled to be completed in March and will see Wight Shipyard Co. nearly double in size, with the group sharing resources and operations in the East Cowes yard on the Isle of Wight.
“This is a transformational deal for Wight Shipyard Co. and for the Isle of Wight, confirming the resurgence of the shipbuilding industry in the United Kingdom,” said Peter Morton, CEO of Wight Shipyard Co. “We have been working with OCEA on a number of projects and it was very clear from the outset that we complemented each other in terms of skills and experience and, going forward through the business cycle, both companies can benefit from the synergies and opportunities that this deal presents.”
Based at its primary yard in Les Sables d’Olonne in France, OCEA employs more than 500 operators with further facilities in France, the Caribbean, and the Philippines. Both shipbuilders specialise in the construction of aluminium ships.
“OCEA is expanding internationally to respond to strong demand in these markets and appreciates the new ‘Global Britain’ and refreshed National Shipbuilding Strategy outlook,” said Roland Joassard, CEO and founder of OECA. “Wight Shipyard Co. shares the same DNA, passion and high quality of workmanship as OCEA and its expertise in the fast ferry market complements OCEA’s qualities in other markets. Having worked with the Wight Shipyard Co. and Peter’s team in a number of ways already, we feel that they are the perfect partner to develop global orders for the fast ferry and offshore renewable energy markets.”