Acquisition of one of the largest shipyards in Canada
CITY OF QUÉBEC, Oct. 5, 2022 /CNW Telbec/ - Ocean Group is proud to announce the acquisition of the Verreault shipyard, located in the municipality of Les Méchins, in the Gaspé Peninsula. With this transaction, Ocean Group is increasing its capacity, enhancing its expertise and adding a hundred competent and committed workers to its workforce.
In doing so, Ocean Group continues its breakthrough in the Canadian and international markets, in addition to consolidating its Quebec roots. In addition, the transaction allows Ocean Group to acquire an additional high-capacity site for ship repair and transformation, complementary to its facilities in Isle-aux-Coudres. The Gaspé Peninsula shipyard is equipped with a 244-metre long and 56-metre wide dry dock. Ocean Group is also adding to its fleet the two Verreault tugs that currently provide service at the Les Méchins and Matane docks.
" Combining our expertise with that of Verreault Shipyard is a concrete example of our desire to increase our service offering for the benefit of our customers. The synergy of our respective strengths, the sum of our experiences and the competence of our teams allow us to approach this new milestone in our growth with confidence. For our 50th anniversary, we are giving ourselves all the tools we need to better face the exciting challenges that the future promises «declared Jacques Tanguay, President and CEO of Ocean Group.
This acquisition is a vector of stability and growth for the Gaspé Peninsula shipyard and its workers.
" We share the same corporate values and a common vision for the industry with Ocean Group. A vision that is synonymous with prosperity for our shipyard, where our expertise will be put to good use in the many current and future projects. The best way to envision the future and sustainability of our company was to join Ocean Group," said Richard Beaupré, President and Chief Operating Officer of Verreault Shipyard.
Founded in 1956, Verreault Shipyard specializes in ship repair and conversion. Considered one of the most efficient shipyards on the eastern part of the continent, the shipyard occupies a prime position on the Quebec and Canadian maritime scene thanks to the values of competence, rigour and dedication instilled by Captain Borromée Verreault, more than 66 years ago.
The inclusion of the Gaspé Peninsula shipyard in the Ocean Group family creates an enhanced service offering. With the Isle-aux-Coudres shipyard on the north shore of the St. Lawrence and the Verreault shipyard to the south, Ocean Group now offers a significant and reassuring presence to users of the river.
The expansion of Ocean Group's activities and service offering will enable it to position itself even more advantageously for the realization of large-scale projects, particularly those emanating from the National Shipbuilding Strategy (NSN) with the federal government. The group is already a partner of the Royal Canadian Navy and the Canadian Coast Guard, in addition to serving numerous government bodies elsewhere in Canada and internationally.
Ocean Group is a major Quebec-based maritime company operating mainly in Quebec, Ontario, Alberta, British Columbia and the Caribbean. More than 1,000 employees carry out a multitude of projects in the three main complementary sectors of activity offered, namely shipbuilding and repair, harbour towing and transportation and specialized marine equipment rental and dredging.
Ocean Group is a private company whose shareholders are Mr. Gordon Bain and Mr. Jacques Tanguay, as well as the Caisse de dépôt et placement du Québec (CDPQ) and the Fonds de solidarité FTQ since 2018.
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SOURCE OCEAN GROUP INC.
Philippe Filion, MAP, PRP, Director - Public Affairs, Ocean Group, 418 694-1414, ext. 2259, 418 928-7056, [email protected]
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