RSA Invests in Shipbuilding Firm

Monday, January 21, 2008
The Retirement Systems of Alabama has become the largest investor in Signal International, with a $100m purchase of shares in the shipbuilding firm that will move its headquarters from Pascagoula, Miss., to RSA's new skyscraper in Mobile. RSA bought about $100m worth of shares in the $240mcompany, the company said. Signal builds and repairs ships and offshore oil rigs. The firm employs about 3,000 people in Mobile, Pascagoula and in the Texas cities of Houston, Port Arthur and Orange. In the next six to nine months, Signal will move its headquarters from Pascagoula to the 35-story RSA Battle House Tower. The company leased 6,000 square feet of office space. RSA was approached about the purchase by Washington, D.C.-based ACON Investments. ACON, a private investment firm, bought Signal out of the bankruptcy estate of Friede Goldman in 2003, and retains a minority ownership position, Signal officials said. Signal has grown and diversified its business since the 2003 ACON purchase, company officials said. Source: Houston Chronicle
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Taiwan's Yang Ming Marine to Add Bigger Vessels to its Fleet

Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company,  will take delivery of 14 large-sized ships over the next two years,

Hapag-Lloyd Adds North Europe-USEC Service

Hapag-Lloyd will open a new weekly service between North Europe and the US East Coast, the company said in its press release.     The new route – to be christened

Khamenei Says Iran Nuclear Weapons are a U.S. "Myth"

Iran's Supreme Leader Ayatollah Ali Khamenei told military commanders on Sunday the United States had created the "myth" of nuclear weapons to portray Iran as a threat,

Finance

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | 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: 0.2066 sec (5 req/sec)