Plans are in place for refit giant Marina Barcelona 92 (MB92) to take the majority share in leading La Ciotat-based refit and repair centre, Compositeworks. The deal, which is being orchestrated in accordance with French protocol, will likely see the Spanish company take the majority stake in the neighbouring Mediterranean shipyard whose management will remain unchanged.
Pepe García-Aubert talks about the lead-up to the proposed acquisition: “We have been looking to expand our operations outside of Barcelona and Compositeworks represents the ideal partner to strengthen our policy of excellence and efficiency of our services. CW has a strong presence in the Côte d’Azur and together, with our combined facilities, we will offer more flexibility and we expect synergies to drive better results for our customers.”
Ben Mennem, President and Co-founder of Compositeworks feels just as positive about the potential such a deal could hold in store. “This is a big day for Compositeworks, a company which has grown from humble beginnings in La Ciotat to become one of the industry’s leading operators in refit and repair. I strongly believe this arrangement provides a platform from which the two companies can lead this growing industry.”
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