British aluminium shipbuilder ‘Wight Shipyard Co.’ merges with multinational shipbuilder OCEA

The leading aluminium shipbuilder of Britain, Wight Shipyard Co. has declared an all-share merger with the multinational shipbuilder OCEA to develop a combined group to capitalise on the fast ferry and offshore renewable energy markets opportunities.

However, the deal is lined up to accomplish in March 2022 and The Wight Shipyard Co.to emerge nearly double in size, securing and providing significant job opportunities at the East Cowes, IOW, UK yard.

Peter Morton, the CEO of Wight Shipyard Co., while speaking on the merger commented, “This is a transformational deal for The Wight Shipyard Co. and the Isle of Wight, confirming the resurgence of the shipbuilding industry in the United Kingdom.”

The British shipbuilder, The Wight Shipyard Co. has expeditiously developed a significant reputation in the fast-ferry market, by selling its innovative, high-tech, environmentally friendly vessels both domestically and internationally and was awarded a Queen’s Award for Enterprise for Export in 2021.

Similarly, in 2020, the French aluminium shipbuilder OCEA was awarded the Baird Maritime award for best large patrol boat (Offshore Patrol Vessel OPV270) and is an innovator in the aluminium vessel market with high quality builds for maritime security, passenger vessels, multipurpose workboats, transoceanic yachts and hydrographic research markets.

Peter Morton further added, “We have been working with OCEA on a number of projects and it was very clear from the outset that we complemented each other in terms of skills and experience and, going forward through the business cycle, both companies can benefit from the synergies and opportunities that this deal presents. We have enjoyed a first-class working relationship with OCEA to produce vessels and solutions to the highest standards, pushing the boundaries in terms of fuel efficiency, the environment and modern shipbuilding practices.”

The Founder and CEO of OCEA, Roland Joassard said, “OCEA is expanding internationally to respond to strong demand in these markets and appreciates the new ‘Global Britain’ and refreshed National Shipbuilding Strategy outlook. Wight Shipyard Co. shares the same DNA, passion and high quality of workmanship as OCEA and its expertise in the fast ferry market complements OCEA’s qualities in other markets. Having worked with the Wight Shipyard Co. and Peter’s team in a number of ways already, we feel that they are the perfect partner to develop global orders for the fast ferry and offshore renewable energy markets.”

OCEA’s strength is the international export market, which has intensified its multinational expansion. However, both the organisations also have complementary expertise supporting the offshore renewable energy sector. The amalgamation of the two shipbuilding giants will produce a candidly global aluminium shipbuilding operation with an order book that offers the business security and sustainability looking to the days ahead.

OCEA based at its primary yard in Les Sables d’Olonne employs more than 500 skilled operators with extended facilities in France, also in the Caribbean Islands and the Philippines. Succeeding the merger with the Wight Shipyard Co., the French Group will share resources and operations in East Cowes that will revamp up significantly, aiding the Isle of Wight to ‘level up’ with the creation of much-needed employment opportunities.

“For East Cowes and the Isle of Wight, this is a step-change in terms of future employment and security for the outstanding team at The Wight Shipyard Co. We will be able to bring in more high-skilled shipbuilders and technicians as well as provide career pathways all through the production chain. It’s a deal that secures livelihoods and is transformational for East Cowes as the epicentre of aluminium shipbuilding in the UK”, Peter Morton said on the above mention opportunities.