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

People & Company News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

Mergers & Acquisitions

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Rohr Dredge Continues European Expansion

Rohr International Dredge Holdings, Inc. announced that it acquired Eurl Rohr France, including its current backlog, inventory and all associated intellectual property (IPR), on July 23, 2014.

Total Sells ts Coal Mining Assets to Exxaro

Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar 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: 0.1086 sec (9 req/sec)