Belgium-based Somtrans will acquire 100% of the shares in Bomin Belgium, located in Antwerp. The deal is expected to be concluded on 31 December 2018 and a rebranding will take place from January 2019.
Jan Christensen, managing director of Bomin, commented: “Since we made the announcement in September that we were exiting the Belgium bunkering market, we have been in discussions with a number of parties regarding the sale of the business. I am very pleased that this agreement has been signed and that the employees of Bomin Belgium will be able to continue the business.”
Ronald Somers, ceo of Somtrans, said this is a “significant time for our family as we look to enter the bunkering market”.
Somers added that the addition of Bomin Belgium will provide its customers with more value and create opportunities to build longer term, partnership-based relationships with them.
In September this year, Bomin announced not only its intention to exit the bunker market of Antwerp, but also Singapore as well.
Bomin intends to operate from only two offices which are Houston and Hamburg.
The downsizing comes at a time when the group is going through a restructuring amid intense competition and low margins in the bunkering business.
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