Friday 21 February 2020

Dutch, Belgian investors look into financial boost for dredging group IHC: FD

The IHC wharf in Rotterdam port. Photo: Stephen Cook via Wikimedia Commons

Dutch investment company HAL, Dutch dredging group Van Oord and its Belgian peer Deme are working together to either take over or invest in Dutch shipbuilder IHC, the Financieele Dagblad said on Friday.

The aim of the talks is to try to prevent what the paper calls ‘crucial expertise and technology’ falling into the hands of a Chinese firm.  The paper bases its claims on various sources close to the talks.

IHC said last July that it needed to find fresh capital to survive. The company posted a loss of €80m in 2018.

Banking sector sources have told the FD that a Chinese firm is interested in acquiring IHC. IHC is a world leader in building dredgers and other advanced marine service ships and HAL, Van Oord and Deme fear that a takeover would allow the Chinese to muscle in on the market, the paper said.

The potential investors expect to have take an decision on what to do, if anything, within four or five weeks, the FD said.

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