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HAL takes over Royal IHC’s IQIP

Dutch shipbuilder and designer Royal IHC has sold its offshore equipment subsidiary IQIP to Amsterdam-listed investor HAL.

The Sliedrecht-based IQIP is a well-known supplier of solutions for installation and foundation projects in the offshore wind and renewables, decommissioning, oil and gas, and coastal and civil markets. The company employs approximately 300 people and generated €102m ($109.5m) in revenue last year.

The move is part of Royal IHC’s financial restructuring plan, which was recently approved in court.

“The sale of IQIP to HAL creates more financial space for both Royal IHC and IQIP. The direct proceeds from the IQIP shares will mainly be used to reduce borrowings and improve Royal IHC’s liquidity,” said Jan-Pieter Klaver, CEO of Royal IHC.

HAL, which controls dredging and marine services provider Boskalis, was also part of a group of companies that, together with the Dutch government and a syndicate of banks, rescued the struggling shipyard from bankruptcy back in April 2020.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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