General Dynamics Completes Acquisition of Earl Ship Repair

Press Release
Thursday, August 02, 2012

Completion of this transaction expands General Dynamic's capabilities in ship-repair market.

General Dynamics has completed its acquisition of the Ship Repair and Coatings Division of Earl Industries, a leading East Coast ship-repair company that supports the U.S. Navy fleet in Norfolk, Va., and Mayport, Fl.  The acquisition is expected to be accretive to General Dynamics' earnings in 2013.

The Ship Repair and Coatings Division of Earl Industries is a prime contractor for nuclear aircraft carrier (CVN) multi-ship, multi-option (MSMO) contracts.  MSMO contracts provide for maintenance, modernization and repair to all ships of a class in specific homeport areas. 

The company also provides maintenance and repair services to frigates and other classes of naval ships.  It now becomes part of the shipbuilding and repair operations of San Diego-based General Dynamics NASSCO, a leading provider of ships to the Navy and a major producer of Jones Act commercial vessels.

"The acquisition of the Ship Repair and Coatings Division of Earl Industries enhances our ability to compete in the growing naval ship-repair market," said Fred Harris, president, General Dynamics NASSCO.  "We have added a solid team with a successful track record that will strengthen our ability to deliver cost-effective maintenance and repair services to the U.S. Navy."

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

Key to Somalia's Recovery

Piracy, terrorism and criminal activities originating in Somalia can only be addressed by creating a climate of security, engagement and empowerment that will encourage home grown businesses,

Long Beach Port Honors OOCL Executive

Andrew Tung, CEO and Managing Director of Orient Overseas Container Line, was presented today with the prestigious “Port Pilot Award” by the Long Beach Board of Harbor Commissioners.

Mergers & Acquisitions

TRIYARDS Buys into Aluminium Shipbuilding Expertise

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products

Salamander Energy Updates on SONA Transaction

Salamander Energy said it has submitted a draft shareholder circular to the Financial Conduct Authority in relation to previously stated plans to divest of an interest in the Greater Bualuang Area.

Navico Acquires MARIS; Expands Portfolio

Navico Holding AS, parent company to the Simrad brand of navigational marine electronics, has reached an agreement to acquire MARIS (Maritime Information Systems A/S) from The Grieg Group.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1644 sec (6 req/sec)