Boskalis Works Council renders positive advice on fleet rationalization plan

Papendrecht, 19 September 2016

Royal Boskalis Westminster N.V. (Boskalis) announces that its Works Council has unanimously rendered a positive advice on the fleet rationalization plan announced early July. Part of the positive advice in an agreement to continue to crew two of the five Fairmount vessels for the time being with Dutch employees.

As a consequence, 24 vessels will be taken out of service in the coming two years resulting in the loss of approximately 650 jobs worldwide.

Furthermore, Boskalis has reached an agreement in principle with the Works Council on a social plan. The workforce reduction will be absorbed through attrition and redeployment where possible and affected employees can make use of a social plan. Boskalis will invite the trade unions to resume talks about this.

For further information

Investor relations:
Martijn L.D. Schuttevâer
[e-mail]

Press:
Arno Schikker
[e-mail]

T [phone]

This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.

Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the oil and gas sector and offshore wind industry as well as salvage solutions (SMIT Salvage). Furthermore, Boskalis has a number of strategic partnerships in harbour towage and terminal services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Boskalis has over 8,200 employees, excluding its share in partnerships.

This press release can also be found on our website www.boskalis.com.

PDF version of this press release

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Source: Koninklijke Boskalis Westminster N.V. via Globenewswire