GULF OFFSHORE 2002
Bollinger to buy Halter Marine
Halter is one of three business units presently operated by Friede Goldman Halter and is a leading builder of small to medium sized vessels.
If the deal is approved by the U.S. Bankruptcy Court, Bollinger contemplates acquiring substantially all of Halters operating assets, properties, extensive design library and construction projects in progress, including the following shipyards: Halter-Pascagoula; Halter-Moss Point; Moss Point Marine; Halter-Port Bienville; Halter-Central; Gulfport-East, and Halter-Three Rivers--all in Mississippi and Halter-Lockport, in Louisiana
Closing is expected to take place in late July or early August 2002.
This acquisition will add eight new construction shipyards to Bollingers three new construction and eleven repair and conversion shipyards for a total of 22 facilities with 43 drydocks strategically located from Pascagoula, MS to Houston, TX.
Family-owned and operated since 1946, Bollinger is a leading provider of marine repair and conversion services and of new construction services to the energy, commercial and government marine markets. It specializes in a wide variety of small to medium-sized offshore and inland vessels
Friede Goldman Halter's current core operating units are Friede Goldman Offshore (construction, upgrade and repair of drilling units, mobile production units and offshore construction equipment) and Halter Marine, Inc. As previously announced, Friede & Goldman Ltd. (naval architecture and marine engineering) is expected to be sold in May, subject to a bankruptcy court approved auction process.