February 27, 2006
Navamar to buy Davie
The trustees for Canada's bankrupt Davie shipyard in Levis, Quebec, have accepted a purchase offer from Montreal-based Navamar, which has previously been limited to afloat and voyage repairs.
Navamar was one of five bidders for the yard which is located on the south shore of the St. Lawrence River just opposite Quebec City. It had made an offer last year that was rejected as too low. This time round, it has brought in other investors--though their identities have yet to be disclosed.
Navamar president Pierre Boisclair says he expects the acquisition to be concluded by the end of March.
The Davie facilities include 2,000 m of water frontage, four construction berths and two graving docks. The largest graving dock has a total length of 364.2 m and is divided by an intermediate gate into a 194.46 m inner section and 152.4 m outer section. Width at the gate is 36.57 m. The smaller dock is 182.57 m with a width at the gate of 18.89 m.