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In March 2007, the controlling shareholder of Crowley Maritime offered $2,990 per share to buy out public investors, a price equal to 258% of the last traded price of shares when the Forum started in April 2004.

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The article copied below appeared in TradeWinds, the shipping industry publication. The weekly paper and its associated web site provide regular coverage of developments concerning Crowley Maritime and other water transportation companies.

 

 

Crowley to acquire Titan

US shipowner adding another string to its bow with acquisition of Florida-based salvage company.

Crowley Maritime Corp has confirmed that it has made an agreed bid to acquire Florida-based salvage company Titan Maritime.

Crowley chairman, president and CEO Tom Crowley Jr said he expected the deal to be closed within the next 30 days. No financial terms were disclosed.

Titan, which was founded in 1980 by David Parrot, is a worldwide salvage company with offices in the UK, Brazil, Indonesia and Dubai.

Previously, Crowley and Titan have worked extensively together as partners in the US-based Marine Response Alliance.

Over the past 25 years, Titan has performed more than 200 salvage and wreck removal projects worldwide.

Crowley, largely a family and employee-owned company, operates in four segments, tugs, tankers, ship management and the liner segment.

By Dale Wainwright in Singapore

  published: 07:04 GMT, 03 October 2005 | last updated: 08:58 GMT, 03 October 2005

 

 

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