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

New Products

GPS Discharge Control System for Food Waste

Through a cooperation with Marine Position AB, Uson Marine AB can now offer functionality from the Seatrade award winning system Environmental Navigator for its

Helideck Safety System to Launch at SMM

Amarcon and Observator Instruments will develop a helideck monitoring and forecasting system to improve the safety of helicopter landings and take-offs from a vessel.

DNV GL-led collaboration to enhance BOP maintenance

The maintenance of blowout preventers (BOPs) has significant financial, logistical and safety implications for drilling operators and rig owners. DNV GL has

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
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: 0.1038 sec (10 req/sec)