AP Moller division Svitzer's salvage division will team up with Crowley’s Titan Salvage under the new name of Ardent, a statement this morning said.
The rest of Svitzer group will remain under the same ownership structure and operate as it had previously.
Confirmation of the merger comes four months after TradeWinds revealed discussions between the pair were underway.
Peter Pietka, the chief executive of Svitzer Salvage who will take the same job at Ardent, said today: “The company will become an industry leader in wreck removal and emergency response.
“Further,
