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July 10, 2003 Blount poised to regain shipyard With a crack of a champagne bottle, Luther Blount launched a 312-foot catamaran and a new era in his shipbuilding empire yesterday. reports today's Providence Journal. The newspaper says the 86-year-old Warren, R.I. businessman plans to purchase the Blount Barrker business out of receivership next Thursday, and will come out of retirement to run the new business, Blount Boats Inc. Blount founded Blount Marine in 1949. When Blount decided to retire in 2000, he signed a five-year lease agreement with Ohio shipbuilder James Barker, who planned to take over the shipbuilding operation. But Barker hit problems with the contract to build the vessel christened yesterday, the AtlantiCat. "Bill Walsh, the catamaran's owner, and Barker signed a contract, but then couldn't agree on a price for some modifications," says the Providence Journal. It adds that Barker filed for receivership in February, and left the business in March. Allan M. Shine, the receiver from the Providence law firm Winograd, Shine & Zacks, oversaw the AtlantiCat's completion. The newspaper says Blount has bought the shipyard's equipment back from the receiver and the transaction is scheduled to be completed next week. The newspaper says the shipyard's new manager is vice president Bradford C. Bernardo and that Blount Boats has its first job lined up: a 155-foot passenger and cargo ferry for the Puerto Rico Port Authority Authority. Tell a friend: