Marine Log

September 6, 2006

Foss acquires Harbor Marine

Seattle-based Foss Maritime Company is to acquire Harbor Marine Group Inc.--a full service Seattle-based naval architecture and marine engineering consulting firm.

"The addition of Harbor Marine Group is the next step in offering our domestic and international customers a complete range of services. We can now provide our customers with world-class maritime transportation services as well as complete project management and logistics services," said Andy Stephens, VP of Shipyards, Engineering, and Project Management at Foss Maritime. "It is a natural extension of the vessel conversion, repair, and new construction business already offered by our two shipyards."

The new line of business will operate under the Harbor Marine Group name as a division of Foss Maritime Company. Harbor Marine Group principals David Dumont and Elizabeth Reynolds have both accepted positions at Foss. Dumont has been named director of Harbor Marine Group, and Reynolds has been named director of Foss engineering.

"We are pleased at the opportunity to offer our engineering and project management expertise to Foss' domestic and international tug, barge and project management customers while also enhancing service to our existing customers throughout the West Coast," said Dumont.

"We are excited about the possibilities this acquisition will afford us," said Foss EVP Gary Faber. "Foss can now effectively provide cradle-to-grave engineering services, starting with feasibility calculations in the analysis stage, to developing drawings and prototypes in the design phase, to outfitting an existing vessel or building a new vessel to meet our customers' needs."

Harbor Marine Group currently serves a broad range of commercial and public marine clients operating throughout the U.S. West Coast and Alaska. It specializes in engineering services for marine construction, heavy lift and marine transportation. Most recently, HMG provided extensive services to Alaska Marine Highway System for vessel refurbishment and upgrades. It has also supported Foss Maritime with its domestic operations and with its petroleum development projects in the Far East.