How long will it take Gulf Coast shipyards to return to pre-Katrina activity levels?

3 months
6 months
9 months
1 year
More than 1 year

New Gulfport yard

September 19, 2006

Trinity Yachts to buy Gulfport yard

Trinity Yachts, LLC says it has signed a letter of intent to purchase a second shipyard--in Gulfport, Miss,-- to expand its capabilities for building and repairing luxury custom superyachts.

The Gulfport yard has over 9 acres of covered building area situated on approximately 50 acres/20.5 hectares of land. This new facility combined with the existing 10 acresof covered buildings on 38 acres/15.5 hectares at the New Orleans yard, provides Trinity Yachts with a very large capacity to create up to 8-10 megayachts annually for the yachting industry and the capability to build up to 400 ft. (122 m) in length--more than double the length of the largest vessel it currently has under construction.

The main construction building has a height of 90 ft. (27.43m) allowing Trinity to build yachts with up to five decks.

"This is a very proud and exciting time for us," says Chairman Felix Sabates. "Despite the recent hurricane that slightly damaged our New Orleans yard, our plans of expansion for 2005 are still on track as originally expected."

"With the purchase of this second facility," says President and CEO John Dane III, "our capacity has more than doubled and will enable us to meet the demands of our customers to reduce the delivery time as well as increase capacity. Our New Orleans yard will be the center of an expanded Repair & Refit focus while still remaining very much a part of the new build process and enabling us to provide an all round better service for our clients."

As part of the company's post-Katrina response, plans are underway for the Gulfport facility to provide 100 housing units for displaced employees or sub-contractors.