Marinette Marine Sold For $48 Million

Friday, October 20, 2000
Manitowoc Co. Inc. reportedly signed an agreement to buy private shipyard operator Marinette Marine Corp. for about $48 million cash. The deal is expected to add to about 5 to 10 cents a share to 2001 earnings, said chief financial officer Glen Tellock. The final price will be subject to closing balance sheet adjustments. The transaction, expected to close within 30 days pending regulatory approvals, will be financed with an existing credit facility. "Marinette Marine is one of the most efficient builders of mid-sized commercial, research, and military vessels in the country and will be a key strategic fit with the industry-leading inspection, maintenance, repair and new-construction facilities that comprise Manitowoc Marine Group," said Terry Growcock, Manitowoc's president and chief executive officer.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Electronics Retrofit for Taiwanese Research Vessel

L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s Ta Kuan hydrographic and oceanographic research vessel.

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Van Oord, Falck Ink Safety Training Deal

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects,

Ports

Port of LA Container Volumes Down 22.7% in January

Port of Los Angeles container volumes decreased by 22.7 percent in January compared to January 2014 volumes, the port announced today. The port's January 2015 cargo volumes totaled 529,

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

Containership Becomes Largest to Sail the Thames

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators 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: 0.1537 sec (7 req/sec)