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RÖDA BOLAGET Röda Bolaget was incorporated in 1872 as a towage company under the name Göteborgs Bogserings AB providing towage services in the port of Gothenburg, Sweden, and soon expanded into salvage. Röda Bolaget acquired Göteborgs Gamla Bogserings AB in 1891, Malmö Bogser AB in 1938 and Bergnings- och Dykeri AB Neptun in 1942 thereby expanding its position as a national towage and salvage operator in Sweden. During its history Röda Bolaget operated under different ownerships until in 1999 it was acquired by SVITZER from the Norwegian towage company Buksér og Berging AS. At the time of the acquisition in 1999 Röda Bolaget operated 16 tugs. ADSTEAM The Adelaide Steamship Company Limited was incorporated in 1875 and initially engaged in operating a steamship service between Adelaide and Melbourne, Australia. Conventional shipping on the Australian coast, primarily products, consumer cargoes and extensive passenger services, was to remain the main activity for the company during its fi rst 100 years of operation. The company started towage activities in Australia in the 1890s. Gradually, towage operations extended over a number of ports, but were still clearly overshadowed by the other shipping operations. By the 1960s towage assumed more importance and represented a signifi cant part of the company’s total activities. In the 1970s and 1980s the Adelaide Steamship Company diversifi ed signifi cantly. Through investments in retail, property, wine production, optical goods manufacturing, engineering, etc. the company became one of Australia’s major conglomerates. At one stage, the company was Australia’s fourth highest capitalized company. However, following the stock market crash in 1987 the company experienced some diffi cult years and in 1997 it was decided to fl oat the towage operation under the name of Adsteam Marine Limited. Over the next decade Adsteam continued to expand its operations and cemented its position as one of the world’s leading towage operators when in 2001 it acquired the towage interests of Howard Smith. Adsteam and Howard Smith, founded in 1854, shared similar backgrounds in coastal shipping and operated multiple joint venture towage operations in Australia. The acquisition effectively doubled the size of Adsteam. At the time of SVITZER’s acquisition of Adsteam in 2007, Adsteam operated some 150 tugs plus barges, workboats and launches predominantly in Australasia and the UK. S V I T Z E R – S A F E T Y A N D S U P P O R T AT S E A 61


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