Big German tug operators Fairplay and Bugsier have announced their intention to merge. Fairplay Schleppdampfschiffs-Reederei Richard Borchard will acquire the Bugsier-, Reederei- und Bergungs-Gesellschaft in the second half of the year.
Both parties have signed a letter of intent, and Bugsier Reederei will continue as a brand in the corporate group of Fairplay-Towage.
Both parties believe the timing for the merger is favourable, with the market for harbour assistance in Northwest Europe being extremely competitive. An internationally well established network will be crucial for this market in the future. For the further development of such a network Fairplay believes it is important to have the strong presence of Bugsier in the German market to complement the strong presence of Fairplay in other European countries.
Both companies have already cooperated successfully in the field of emergency towing vessels (ETVs), so the merger is therefore an opportunity to position themselves firmly in the market and to expand their business activities. With more than 100 tugs between them, this new group will have a strong presence in the North European market.
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