FGL Sold to United Heavy Machinery

Friday, May 24, 2002
United Heavy B.V., a division of United Heavy Machinery, has purchased the Naval Architecture and Marine Engineering business unit Friede & Goldman Ltd. (FGL) from Friede Goldman Halter, Inc. for a sum of $15 million. “We are pleased with the outcome of this auction,” said Jack Stone, president and CEO of Friede Goldman Halter. “The competitive bidding for FGL shows the level of confidence the marketplace has in the products and services offered by Friede & Goldman Ltd. and in its future.” “The sale of Friede & Goldman Ltd. is positive for the estate and the terms of the agreement provide continued access to the FGL design technology for Friede Goldman Offshore which should prove beneficial to both companies going forward.” said Ron Schnoor, President of Friede Goldman Offshore.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Finance

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

DP World Eyes Taiwan Port

Global marine container terminal operator DP World  will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC),

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction 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: 0.0962 sec (10 req/sec)