Following a strategic review Heerema Fabrication Group (HFG) intends to divest a significant part of its activities in the field of design and fabrication of complex steel constructions for the offshore market. HFG has been struggling for some time with insufficient project volume and marginal profitability. As a result of the divestment HFG intends to dispose of its activities at the locations in Zwijndrecht (The Netherlands) and Hartlepool (United Kingdom).
The intended restructuring will see the closure of HFG’s head office in The Netherlands. It is anticipated that 60 jobs at the company’s headquarters will be phased out. HFG has signed a letter of intent aiming to sell its activities at the yard in Zwijndrecht with the Italian engineering and construction company Rosetti Marino S.p.A.. It is expected that the transfer of activities will not affect the workforce at the Zwijndrecht yard. In the coming period HFG also intends to seek a buyer for its activities at the yard in Hartlepool. The activities at the HFG yard in Vlissingen (The Netherlands) and Opole (Poland) will continue as they are. The current intended divestment follows a restructuring of HFG in November 2016 that took place against the background of the decreased oil price, the consequent lack of investment in the oil and gas industry and unfavourable contractual conditions in the wind energy market. The restructuring was based on the expectation that the market would improve from 2019 onwards. The HFG yard in Vlissingen, supported by the yard in Poland, will remain focused on the construction of jackets for the offshore industry and at the same time will continue to act as shore base for its sister company HMC.
