AD Ports Group Acquires Balenciaga Shipyard for €11.2 Million
AD Ports Group has announced the acquisition of Balenciaga Astilleros Shipyard, a prominent shipbuilding and repair facility in Spain, for €11.2 million. This strategic move, executed through its subsidiary SAFEEN Drydocks, aims to enhance AD Ports Group’s operations in Spain and the Mediterranean region while bolstering its presence in the offshore wind sector. The acquisition marks a significant step in the company’s international expansion and diversification strategy.
Located in the Basque region, the shipyard will now be known as Balenciaga Shipyard. With nearly a century of shipbuilding experience, it boasts state-of-the-art infrastructure, including two drydocks, a 105-meter slipway, and a factory equipped with advanced automation and fabrication technologies. The facility spans 22,385 square meters, complemented by a 3,530 square meter cutting and manufacturing area. Balenciaga Shipyard is recognized for its expertise in structural prefabrication of large modules for offshore projects and the construction of complex vessels, particularly Service Operation Vessels (SOVs) that serve offshore wind farms.
Strengthening Offshore Wind Capabilities
Captain Ammar Al Shaiba, CEO of the Maritime & Shipping Cluster at AD Ports Group, emphasized that this acquisition aligns with the company’s strategy for targeted international growth and portfolio diversification. He stated, “Balenciaga Shipyard’s expertise in advanced vessel construction, particularly for the offshore wind sector, will enable us to further our ambitions while facilitating knowledge transfer and best practice adoption across SAFEEN Drydocks.”
The integration of Balenciaga Shipyard into AD Ports Group’s portfolio is expected to enhance the company’s capabilities in supporting the global clean energy transition. This acquisition also complements AD Ports Group’s recent partnership with Masdar, aimed at developing and delivering offshore wind projects. With the demand for specialized SOVs projected to rise significantly in the coming years, Balenciaga Shipyard’s strategic location near the North Sea and broader European markets positions it to play a crucial role in meeting this demand.
Economic Impact and Job Creation
The acquisition of Balenciaga Shipyard is anticipated to bring substantial economic benefits to the region. It is expected to create over 50 skilled jobs, supporting a robust pipeline of specialized vessel projects. These projects will not only involve SAFEEN Drydocks but also AD Ports Group’s international partners, contributing to the company’s fleet requirements.
As AD Ports Group continues to expand its footprint in the offshore wind market, the addition of Balenciaga Shipyard is a significant milestone. The investment underscores the company’s commitment to fostering economic opportunities in key markets while enhancing its capabilities in advanced offshore wind technologies. This strategic acquisition positions AD Ports Group as a key player in the evolving landscape of renewable energy and maritime operations.
