The Wight Shipyard Co merges with French firm OCEA

Published by

Stephen Emerson

The Wight Shipyard Co has been sold to OCEA

The Wight Shipyard Co. is to merge with French shipbuilder OCEA in a move that its current owners say secures its long term future.

The East Cowes-based company will complete its merger with OCEA, who are headquartered in western France, in March this year in a move that will create a combined group focused on the fast ferry and offshore renewable energy markets.

A statement from The Wight Shipyard said the deal would double the size of its current operations and create further employment opportunities on the Isle of Wight.

Peter Morton, CEO of The Wight Shipyard Co, said: “This is a transformational deal for The Wight Shipyard Co. and for the Isle of Wight, confirming the resurgence of the shipbuilding industry in the United Kingdom.

"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 Wight Shipyard Co. has built a strong reputation in the fast-ferry market and recently secured the contract for two new ‘Uber Boat by Thames Clippers’.

Roland Joassard, CEO and founder of OCEA, 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 employs more than 500 people and has facilities in France, the Caribbean and the Philippines.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.