Guaruj? II Shipyard Warehouse fire impact analysis

RNS Number : 1297H

Ocean Wilsons Holdings Ld

17 June 2013

 



Ocean Wilsons Holdings Limited

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

Wilson Sons Limited ("Wilson Sons" or the "Company") (BM&FBovespa: WSON11) announces that it is in an advanced stage of analysis of the impacts of a fire which occurred in the Guarujá II shipyards´ warehouse on Wednesday, May 15, 2013. The Company holds insurance policies covering the damage to the warehouse and materials inventory used in the shipbuilding process. The Company's insurers were activated immediately after the incident and are conducting the claims process with an expected deductible for Builder's Cost insurance, fixed per vessel, and for damage to Property, together estimated at one million Brazilian reais.

The Company considers that the eventual delay in the delivery of vessels will be limited due to the similarity of components previously ordered for subsequent vessels to be built. There were no injuries as a result of the fire.

Wilson Sons maintains full insurance coverage aimed at the prevention and protection against risks inherent in their operations, taking into account mainly the assets of its clients, its facilities and equipment, and continuity of operations. Insurance policies are contracted with accredited insurers and renewed periodically, following Company policies and procedures.

Enquiries

Company Contact

Keith Middleton                                                            1 441 295 1309

Media

David Haggie                                                               020 7562 4444

Haggie Partners LLP

Cantor Fitzgerald Europe                                            020 7894 7000

David Banks - Corporate Broking

 

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