MODEC Aides FGL

Tuesday, March 19, 2002
MODEC Inc., announced that its wholly owned subsidiary, MODEC (USA) Inc. in partnership with the current management team of Friede & Goldman, Ltd. (FGL) has signed a contract with Friede Goldman Halter, Inc. to acquire the assets of Friede & Goldman Ltd. The acquisition is subject to approval by the United States Bankruptcy Court. Commenting on the agreement,. Paul Geiger Jr., President of Friede & Goldman, Ltd. said, “This acquisition led by the management team with the support of MODEC Group gives a tremendous boost to the business activities of FGL. We intend to aggressively market our services and designs to drilling contractors and to shipyards. We also intend to expand our services to support MODEC Group and other companies in Floating Production concepts and technology.” Kenji Yamada, President & C.E.O. of MODEC Inc. added, “MODEC and Friede & Goldman are respected names in the offshore industry with a proud heritage of completed projects. An association of these two companies will be a strong partnership. We intend to support the existing management team, to aggressively expand its services and designs to the drilling industry. In addition, by forming synergies, we intend to expand our range of solutions for the Floating Production market. MODEC also intends to utilize FGL resources to support it in its FPSO/FSO and TLP projects.”

Maritime Today


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

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

New Products

Buy and Sell Vessels from a Mobile Device

The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and

Ecofix Filler Coat Cuts Rudder Repairs Cost

With an increasing trend for thruster and rudder manufacturers finishing their products with self-cleaning protective hard coatings, Antwerp headquartered Subsea

Navig8 Acquires Chemical Tanker from STX

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.0649 sec (15 req/sec)