MSCGI Signs Agreement to Acquire Heidmar

Thursday, August 03, 2006
Morgan Stanley Capital Group Inc. (MSCGI), has reached a definitive agreement to acquire the Heidmar Group of companies, including Texas-based Houston Marine Services, Inc. (Heidmar). The acquisition is expected to close during MSCGI’s fiscal fourth quarter, subject to the customary closing conditions, such as regulatory and antitrust reviews. Financial terms were not disclosed. Under terms of the transaction, Per Heidenreich will continue to serve as non-executive chairman; Tim Brennan will continue as president of Heidenreich Marine Inc.; Jim Bailey will continue as president of Heidenreich Lightering Services Inc. and Houston Marine Services, Inc.; Charlie Tammara will continue as chief financial officer for Heidmar; and Fritz Heidenreich will continue as director of information technology.

People & Company News

Japanese Yards Mull Shipbuilding Alliance

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MN100: Scienco/FAST

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MN100: MOPS Marine License Insurance

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Contracts

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

 
 
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