Medina Int’l Acquires Harbor Guard Boats

Monday, November 09, 2009

Medina International Holdings, Inc. (Pink Sheets: MIHI), a manufacturer of specialized search and rescue boats, announced that it has completed the acquisition of Harbor Guard Boats, Inc. Harbor Guard Boats, Inc. manufactures fire rescue, rescue and patrol boats.

Harbor Guard Boats, Inc. had sales of approximately $693,455, $575,110 and $1,478,479 for the years ended April 30, 2007, 2008 and 2009 respectively.

President of Medina International Holdings, Inc., Daniel Medina stated that, "This acquisition complements our existing fire, rescue and patrol boat division, adding several high-end, proprietary hull designs that have proven extremely popular."

Chief financial officer of Medina International Holdings, Inc. Rao Mankal commented, "This acquisition represents a significant step forward in increasing our product line. We have now expanded our capabilities from 12-ft up to 37-ft boats, thereby giving us a presence in the larger boat market."

Albert Mardikian, Chief Executive Officer of Harbor Guard Boats, Inc. said, "I am enthusiastic about this merger. The combined entity of Harbor Guard and Medina International will be the leader in Homeland Security fire, rescue and patrol boats and watercrafts. As part of a publicly traded company our opportunities will expand and our access to additional capital to take advantage of these opportunities will increase."

(www.medinamarine.com)
(www.harborguardboats.com)

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

People & Company News

Dool to Serve as Chair of SLSMC Board

The St. Lawrence Seaway Management Corporation (SLSMC) announced that Tim Dool has been named as Chair of the Board of Directors, effective September 1. Dool was

Bollore First Half Boosted by Transport, Advertising Unit

French industrial group Bollore said first-half operating income rose 11 percent to 314 million euro because of strength at its transport business and advertising agency Havas,

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Legal

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

USCG Shares Safety Tips for Labor Day, Riverfest

Labor Day weekend marks the unofficial end of the boating season and is known as one of the busiest recreational boating weekends on the Ohio River. With approximately 2,

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act   Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair 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: 0.1318 sec (8 req/sec)