New Orleans, La., headquartered Harvey Gulf International Marine announced that CEO and Chairman of the Board Shane Guidry has formed a private holding company and purchased approximately 831,000 shares of common stock in Harvey Gulf’s parent company, HGIM Corp.
Together with his existing common shares and restricted stock units, Guidry now holds approximately 970,000 shares of the company.
“My recent purchases of Harvey Gulf stock reflect my confidence in both the rebound of our industry, which I feel is imminent, and Harvey Gulf’s position to service our customers’ needs and outperform our competitors as this rebound occurs,” said Guidry. “Our customers are looking to globally explore and produce oil in deep waters while simultaneously taking measures to protect our environment. During this downturn, Harvey Gulf has expanded operations internationally, increased our MPSV fleet to include the best performing, highest capacity MPSV’s in the U.S. Jones Act fleet, and formed a top flight subsea division to provide our customers a turnkey solution for all of their subsea operations.
“At the same time, we have begun equipping our fleet with battery power, including our LNG-powered vessels, creating the first dual and tri-fueled vessels with battery power operating in the U.S. Together, with our exemplary safety and performance records, and operation of LNG-powered, LNG bunkering, and Enviro Plus and Green Passport certified vessels, Harvey Gulf presents a solution for all our customers’ vessel needs, one they can be proud to promote, and also a value to our shareholders. That is why I am investing my personal funds in the company and will be looking to purchase more shares in the near future.”