Ocean Wilsons Holdings Ld
Headline: Trading update 13:42 03-Oct-08
OCN Number:0640F13

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 (Bovespa: WSON11) announces that, on August 27, 2008, after the Company's request for authorization by the state of Rio Grande do Sul to build a new shipyard facility, the CAP (Conselho de Autoridade Portuária), the State's port authority council, decided to approve modifications to existing zoning standards, which would allow for new shipping construction activities in the port area, as requested. 

The new shipyard project, for which estimated investments may reach up to USD 60 million, was designed to include the forementioned area and will focus, mainly, on the construction of vessels that provide support services to Oil and Gas platforms.     

Actual project implementation is subject to additional authorization by the government. 

WILSON SONS LIMITED believes that, by investing in the construction of a new shipyard in Rio Grande, the Company reaffirms its growth strategy, as well as its focus on the Oil and Gas industry.   

This information is provided by RNS
The company news service from the London Stock Exchange