2001 Maritime

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May 8, 2001

USMR to acquire Hawaii yard
United States Marine Repair (USMR) has signed a letter of intent to buy Marisco, Ltd., one of only two full-service shipyards in Hawaii.

Located in Barbers Point Harbor near the southwest tip of the island of Oahu, Marisco facilities include the "Big Mike" floating dry dock. It can accomodate vessels 78 feet wide and over 500 feet long.

USMR says the acquisition will give it a strong local presence and an additional facility in which to perform work for the U.S. government and commercial customers.

USMR shipyards are located in San Diego, San Pedro and San Francisco, Calif.; Norfolk, Va., the company's corporate headquarters; and Ingleside, Tex.

The Marisco acquisition is expected to close around mid-June 2001.

Retired Rear Admiral Dick Camacho, senior vice president for government business development at USMR, will expand his scope of responsibility to include Marisco and will work closely with its management team in developing new markets.

Camacho has spent the last 15 years in a key role in strategic planning at Southwest Marine, a subsidiary of USMR, and brings extensive knowledge, personal contacts, ability and insight into the ship repair and modernization business. He completed his 30-year tour of duty as the commander of Pearl Harbor Naval Shipyard, with the additional role of Supervisor of Shipbuilding, Pearl Harbor, where he directed work performed in the private sector shipyards.

Schat-Harding wins Queen Mary II lifesaving contract
Schat-Harding has won a major contract to supply the lifeboats, davits and fast rescue craft to the Cunard newbuilding cruiseship Queen Mary Ii, under construction at Chantiers de l'Atlantique. Schat-Harding will also supply full sets of lifesaving equipment for two cruiseships building for Mediterranean Shipping Company at the yard.

The 2,620 passenger Queen Mary II will be equipped with eight 150-person CTL38 cruise tenders and conventionalVIP24FD davits, 14 MPC32 lifeboats and VIP davits, two fast rescue craft and special davits and eight davits for 35-person lifeboats. Delivery is scheduled for late 2002/early 2003.

The two 2,200passenger ships building for MSC will be equipped with four cruise tenders and davits, plus 10 MPC32 lifeboats and conventional davits, and also rescue craft and life raft davits. Delivery will be between January 2002 and December 2003, when the second ship will be completed.