As general agents for Smit International (Holland) on the North American West Coast, Marine Design Associates (Vancouver, Canada) has been active in pursuing investment opportunities on behalf of their Principal. Having introduced the second biggest marine operator in B.C. - Rivtow Marine Ltd. - to Smit International in late 1999, the two companies have now come to agreeable sale terms and Smit International acquired the assets of Rivtow on July 31st, 2000.
MDA conducted the fleet valuation prior to a sale offer being made and subsequently assisted with due diligence. Rivtow Marine will continue to operate its Coastal fleet of tugs, barges and log carriers as well as developing further its interests with Tiger Tugz, a Vancouver harbour ship docking company, and Westminster Tugs Boats at New Westminster, BC.
MDA continues as the general agent in developing other Smitís activities, which include but are not limited to Heavy and High Lifting, Heavy Transport, Marine Contracting and Directional Drilling Services.