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FINCANTIERI: VARD ACQUIRES STX CANADA MARINE
04 lug 2014
04 lug 2014
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE
The company is a leading marine design company
Fincantieri, through its subsidiary Vard Holdings Limited (“VARD”) – one of the major global designers and shipbuilders of offshore and specialized vessels, has acquired STX Canada Marine Inc., a leading marine engineering and design company with more than 30 years history in North America, for an amount equivalent to approximately EUR 8 million.
Headquartered in Vancouver, Canada, and has branch offices in Ottawa and Houston, Texas, and a workforce of over 75 employees, the new acquisition will be fully integrated with Vard Marine Inc. (“Vard Marine”) and operate under the Vard Marine name. The management, directed by President Dave McMillan, will continue, allowing the new organization to combine best practices of VARD with North American marine engineering and design skills.
Following the acquisition Vard Marine will provide a broad range of naval architecture and marine engineering services world-wide, including all aspects of ship design and production technology, total equipment and services packages, support for offshore, commercial and naval shipbuilding activities, economic and technical feasibility studies, research and analytical investigations, and model tests and full scale trials.
Vard Marine specializes in the development of advanced technology and its application to offshore and specialized vessel designs. Its portfolio ranges from offshore support vessels, offshore subsea construction vessels, semi-submersibles, and icebreakers to research, naval and patrol vessels. The Company currently has an order book of 38 ship designs for vessels under construction, for ship owners and yard customers worldwide. 20 of these orders are for offshore support vessels (“OSVs”), constituting more than 20% of the overall OSVs order book in the United States.
This important acquisition allows to accelerate VARD’s growth strategy in North America and to strengthen the presence of the Group in that region and market, and shows the Group focus on high value added activities that can increase and complement the know-how in existing product portfolio of vessels designs and equipment.
Trieste, 4 July 2014
These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the “Shares”) of Fincantieri S.p.A. (the “Company”) in the United States, Italy or any other jurisdiction. The Shares of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares of the Company have not been, and will not be, registered under the Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in, and in reliance on, Rule 144A under the Securities Act.
Questi materiali non possono essere pubblicati, distribuiti o trasmessi negli Stati Uniti, Canada, Australia o Giappone. Questi materiali non costituiscono un’offerta di vendita di titoli o la sollecitazione di un’offerta di acquisto di titoli (le “Azioni”) di Fincantieri S.p.A. (la “Società”) negli Stati Uniti, in Italia o in qualsiasi altra giurisdizione. Le Azioni della Società non possono essere offerte o vendute negli Stati Uniti senza registrazione o una esenzione dall’obbligo di registrazione ai sensi dello U.S. Securities Act del 1933, come modificato (il “Securities Act”). Le Azioni della Società non sono state e non saranno registrate ai sensi del Securities Act. Qualsiasi vendita negli Stati Uniti dei titoli menzionati nella presente comunicazione sarà effettuata esclusivamente ad “acquirenti istituzionali qualificati” come definiti nel, e in base all’articolo 144A del Securities Act.
The company is a leading marine design company
Fincantieri, through its subsidiary Vard Holdings Limited (“VARD”) – one of the major global designers and shipbuilders of offshore and specialized vessels, has acquired STX Canada Marine Inc., a leading marine engineering and design company with more than 30 years history in North America, for an amount equivalent to approximately EUR 8 million.
Headquartered in Vancouver, Canada, and has branch offices in Ottawa and Houston, Texas, and a workforce of over 75 employees, the new acquisition will be fully integrated with Vard Marine Inc. (“Vard Marine”) and operate under the Vard Marine name. The management, directed by President Dave McMillan, will continue, allowing the new organization to combine best practices of VARD with North American marine engineering and design skills.
Following the acquisition Vard Marine will provide a broad range of naval architecture and marine engineering services world-wide, including all aspects of ship design and production technology, total equipment and services packages, support for offshore, commercial and naval shipbuilding activities, economic and technical feasibility studies, research and analytical investigations, and model tests and full scale trials.
Vard Marine specializes in the development of advanced technology and its application to offshore and specialized vessel designs. Its portfolio ranges from offshore support vessels, offshore subsea construction vessels, semi-submersibles, and icebreakers to research, naval and patrol vessels. The Company currently has an order book of 38 ship designs for vessels under construction, for ship owners and yard customers worldwide. 20 of these orders are for offshore support vessels (“OSVs”), constituting more than 20% of the overall OSVs order book in the United States.
This important acquisition allows to accelerate VARD’s growth strategy in North America and to strengthen the presence of the Group in that region and market, and shows the Group focus on high value added activities that can increase and complement the know-how in existing product portfolio of vessels designs and equipment.
Trieste, 4 July 2014
These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the “Shares”) of Fincantieri S.p.A. (the “Company”) in the United States, Italy or any other jurisdiction. The Shares of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares of the Company have not been, and will not be, registered under the Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to “qualified institutional buyers” as defined in, and in reliance on, Rule 144A under the Securities Act.
Questi materiali non possono essere pubblicati, distribuiti o trasmessi negli Stati Uniti, Canada, Australia o Giappone. Questi materiali non costituiscono un’offerta di vendita di titoli o la sollecitazione di un’offerta di acquisto di titoli (le “Azioni”) di Fincantieri S.p.A. (la “Società”) negli Stati Uniti, in Italia o in qualsiasi altra giurisdizione. Le Azioni della Società non possono essere offerte o vendute negli Stati Uniti senza registrazione o una esenzione dall’obbligo di registrazione ai sensi dello U.S. Securities Act del 1933, come modificato (il “Securities Act”). Le Azioni della Società non sono state e non saranno registrate ai sensi del Securities Act. Qualsiasi vendita negli Stati Uniti dei titoli menzionati nella presente comunicazione sarà effettuata esclusivamente ad “acquirenti istituzionali qualificati” come definiti nel, e in base all’articolo 144A del Securities Act.