GE Capital Solutions Acquires CitiCapital’s Marine Finance Division

Thursday, January 04, 2007
GE Capital Solutions said it has acquired CitiCapital's Marine Finance division, an Irving, Texas unit of Citigroup. CitiCapital Marine finances and leases commercial workboats and passenger vessels in U.S. and Canadian waters and the Gulf of Mexico. The acquisition, which closed last week, will add approximately $250 million in assets to GE Capital Solutions’ marine portfolio. Terms of the agreement were not disclosed.

Joseph Pitch, senior vice president, CitiCapital Marine Finance, will join GE as part of the Marine industry team. GE Capital Solutions finances such vessels as tugs and barges, car and passenger ferries, pilot boats, offshore supply vessels/anchor handlers and dredges and derrick cranes.

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

Finance

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

Environmental

Steven Palazzo Visits HII, Newport

Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi,

Environmental Groups: IMO Polar Code Too Weak

The International Maritime Organization (IMO) today adopted the Polar Code aimed at regulating shipping in Polar Regions. Several environmental groups have criticized

Bouchard Vessels Honored by SCA

Forty-three Bouchard Transportation Co., Inc. vessels have been honored by The Chamber of Shipping America (CSA) with Certificates of Environmental Achievement.

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1112 sec (9 req/sec)