Smit board member resigns following Boskalis deal

A Smit Internationale supervisory board member has stepped down following the company's decision to merge with Boskalis Westminster.

W Cordia resigned his position after dredging giant Boskalis made the deal clinching offer for the offshore transport, heavy lift, towage and salvage company.

"While Mr Cordia supports the non-financial aspects of the merger between Boskalis and Smit, he is unable to agree with the price of the offer. After careful consideration, Mr Cordia announced that he has decided to resign as member of the supervisory board of which he has been a member since 2004. Smit regrets his decision to leave.

"The executive board and the supervisory board, however, respect his choice and thank him for his support and guidance during the last few years," said a Smit spokesman.