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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Raytheon Anschütz Expands US operations

Raytheon Company announced the launch of its new subsidiary, Raytheon Anschuetz USA LLC, located in San Diego, Calif.    According to the company, Raytheon Anschuetz

Panalpina Acquires Egyptian Agent Afifi

Switzerland-based supply chain solutions provider Panalpina is to acquire its Egyptian agent Afifi, a family-owned company specializing in freight forwarding, customs clearance and logistics.

Ship Launch Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Finance

Ship Launch Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

Asia-N.Europe Box Rates Hit 6-Year Low

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Sonar Winch
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: 0.1485 sec (7 req/sec)