Hydralift to Acquire a portion of SAS Gouda BV

Hydralift has entered into an agreement to purchase 32.35 percent of the shares in the Dutch company SAS Gouda BV. This company supplies equipment for subsea pipelaying and has over the years developed an excellent position in this segment. The agreement contains an option for purchase of the remaining shares in the company over the next two years.

The acquisition of shares in SAS Gouda BV follows Hydralift's strategy to focus on the market for subsea pipelaying. Over the past few years significant resources have been committed to develop own products, which are now being put out on the market.

Hydralift's proprietary equipment is designed to handle large dimensions of pipe in deep waters. SAS Gouda supplies equipment for pipelaying in smaller scale. In addition SAS Gouda supplies equipment for all pipehandling on deck and a special machine (plough) to dig ditches for pipelines on the seabed. SAS Gouda's products are thus highly complementary to Hydralift's range.

Following the acquisition Hydralift and SAS Gouda jointly will be in a position to supply complete equipment packages for laying of fixed and flexible pipe of all relevant dimensions and water depths. SAS Gouda's position and references in the market are deemed highly valuable in such a context.

The outlook for the pipelaying market is considered very interesting from now on and to Hydralift it represents a new market for which there are high expectations.