Royal Boskalis Westminster
Boskalis headquarters in Papendrecht (The Netherlands)
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| Naamloze vennootschap | |
| Traded as | Euronext: BOKA |
| Industry | Construction, services |
| Founded | 1910 |
| Headquarters | Papendrecht, Netherlands |
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Key people
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Peter Berdowski (CEO), Herman Hazewinkel (Chairman of the supervisory board) |
| Products | Dredging, land reclamation, maritime infrastructure, offshore construction |
| Revenue | €2.674 billion (2010) |
| €401.9 million (2010) | |
| Profit | €310.5 million (2010) |
| Total assets | €4.315 billion (end 2010) |
| Total equity | €1.599 billion (end 2010) |
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Number of employees
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13,830 (end 2010) |
| Website | www.boskalis.com |
Royal Boskalis Westminster N.V. is a Netherlands-based company that provides services relating to the construction and maintenance of maritime infrastructure on an international basis. The company has one of the world's largest dredging fleets.
Boskalis (Bos & Kalis) was founded as Johannes Kraaijeveld en van Noordenne in 1910 by Johannes Kraaijeveld and Elizabeth van Noordenne. In the thirties it was renamed NV Baggermaatschappij Bos & Kalis when Gerrit Jan Bos, Wilhelm Bos, Egbertus Dingeman Kalis and Kobus Kalis took over. In between the two wars, Boskalis contributed to the Zuiderzee project. The company inked a contract in 1931 for the dredging of Bromborough Dock. In 1933, Boskalis partnered with the Westminster Dredging Company (based in Fareham, England, which opened business opportunities with West Africa.
Boskalis became a public company in 1970. Boskalis received the designation "Royal" in 1978.
In the 1980s economic and political circumstances forced Boskalis to concentrate on its core dredging business.
More acquisitions followed in the 1990s. It also acquired a 40% interest in Archirodon Group. During this period Boskalis was also involved in several major land reclamation projects. In Hong Kong the company worked on the major land reclamation project for the new Chek Lap Kok airport and in Singapore it cooperated on a multi-year development program.
In 2007 the company was engaged in two major contracts in Australia — a €300 million contract to deepen the shipping channels of Port Phillip in Melbourne, utilising its dredge the Queen of the Netherlands, and a €50 million contract to expand the harbour at Newcastle. The company is also involved in a €1.1 billion contract to develop a new port in Abu Dhabi.
On 15 September 2008 Boskalis offered €1.11 billion for fellow Dutch maritime company Smit International. Despite the offer being promptly rejected by Smit's board, Boskalis subsequently built a stake of over 25% in the firm and expressed a continuing desire to buy a number of its business units. A revised offer of €1.35 billion was accepted by Smit in January 2010, with Boskalis declaring its offer unconditional that March.
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