Rimorchiatori Riuniti, the Genoese Group that is a 100% shareholder in Tug Malta Ltd. has just acquired 50% shareholding in Gesmar, a company that provides towage and related services for the majority of the Adriatic ports.
By virtue of this acquisition, Rimorchiatori Riuniti will now be one of the largest operators in the sector not just in Italy, but the Mediterranean as a whole.
Rimorchiatori Riuniti acquired its stake in Gesmar from the Ravenna-based Setramar Group which is controlled by the Poggiali family and which operates in the sectors of port terminals, inland logistics, shipping, trading and other conglomerate related business activities. The other 50% of Gesmar is held by the Fratelli Vitiello.
Through Gesmar, and thanks to the alliance with the Vitiello Familiy, Rimorchiatori Riuniti is now extending its control over tugboat services in the ports of Trieste (with the Cattaruzza Group), Ravenna, Ancona, Pescara, Termoli Vasto and Ortona amongst other ports bordering the Adriatic Sea. Rimorchiatori Riuniti also operates harbour towage in Genova, Salerno and Malta. The Group also has a significant outfit operating in the oil & gas sector through its subsidiary company Finarge – which owns and operates 10 AHTS (Anchor Handling Tug Supply) units for Petrobras’ offshore platforms in Brazil, as well as high speed vessels that service the platforms. Through other group subsidiaries Rimorchiatori Riuniti is also active in international bulk trade shipping operating a number of container, bulk and chemical vessels.
With this acquisition transaction in Gesmar, both the Rimorchiatori Riuniti Group and the Vitiello partners are expected to consolidate and strengthen their position to better pursue market growth opportunities particularly in the Balkans and North Africa. The expected synergies from the Rimorchiatori Riuniti Group’s 50% acquisition in Gesmar should bring about benefits for Tug Malta Ltd pursuant to its own strategic focus.
