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

New Products

RCH Engineers New Steering System

Rio Controls & Hydraulics (RCH) said it has developed a new steering system by modifying existing inductive sensors used in the oil and gas industry to reach a

MAS Debuts Exclusive Armor Systems

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel

Ben3D Introduces ContainerTug 600S

Ben3D BV Naval Architecture introduce in collaboration with Oonincx Shipbuilding BV the innovative ContainerTug 600S. A strong, compact Dutch built workboat with

 
 
Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0975 sec (10 req/sec)