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Dutch investor acquires Gdynia harbour towage operator


2011-09-07



Fairplay Towage, a European towage group based in the Netherlands, has completed the acquisition of WUZ, the shipping and port services division of ZMPG, the state-owned operator of the Gdynia harbour. The value of the transaction is PLN 44.4m (approx. €10.5m), nearly 20% higher than the asking price of PLN 37.4m (€8.8m).

The Dutch company gave an unconditional three-year job guarantee to all of WUZ’s 230 workers as well as bonuses of PLN 2,500 (€591) each. However, the sale was completed in the face of opposition from trade unions describing the offer as not generous enough.

Fairplay is one of the leading European tugboat operators. It has offices in Hamburg, Rotterdam, Antwerp, Rostock, Wismar, Szczecin and Swinoujscie. Apart from its core harbour towage business the company is also active in deep-sea towage, and off-shore support- and salvage works.

ZUG is the sixth subsidiary of ZMPG to be sold to a private investor during the past 10 years. The news comes days after the sale of MTMG, the operator of harbour’s marine bulk terminal, to a French investor.



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