Victoria Shipyards Acquires CME Assets

Monday, November 30, 2009

Washington Marine Group announced that it has acquired substantially all of the Victoria-based assets of Canadian Maritime Engineering (CME). CME has operated a ship repair business at the Esquimalt Graving dock since 2004. The CME assets include a large shop, shipyard machinery and equipment, which Victoria Shipyards (VSL) will utilize in the execution of the Frigate Life Extension program (FELEX) for the Canadian Navy. In addition to the CME assets, VSL will be purchasing a number of other mobile buildings in the coming months to provide the necessary facilities to support the FELEX team and to efficiently serve customer.

(www.washingtonmarinegroup.com)

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