RTC Acquires Senesco Marine

Wednesday, November 01, 2006
The North Kingstown-based Senesco Marine, previously known as the Southeastern New England Shipbuilding Corp., has been acquired by Reinauer Transportation Companies LLC, according to a report in the Providence Business News - www.pbn.com.

Terms of the deal were not disclosed. In his online announcement, Reinauer President Craig Reinauer said only that he “is pleased to announce that on September 29th, Reinauer Transportation acquired the Southeastern New England Shipbuilding Corp.”

The North Kingstown company formally changed its name to Senesco Marine in October 2003, when it also announced it was streamlining its design and construction procedures to speed delivery. It is headquartered in the Quonset Business Park, where it has a fully paved 25-acre new-construction facility, with more than 215,000 feet of covered floor space, and a 6-acre repair facility with a 1,200-foot-long pier in 35 feet of water. Its 3,500-ton floating dry dock is capable of serving vessels up to 350 feet in length and up to 74 feet in the beam.

Senesco produces deck, hopper and tank barges, including double-hulled models that comply with the Oil Pollution Act of 1990; research vessels, tugboats and ferries; marina floats, causeways, pontoons and piers; port and harbor security barriers; and custom steel structures for marine and land applications.

Its recent projects included a 3,800-ton, 200-foot floating dry dock for Norfolk, Va.-based Lyon Shipyard. Senesco constructed the dock in North Kingstown, in three modules; it was towed to Virginia after its assembly in North Kingstown, where it was christened in June.

Last year, Senesco delivered a 403-foot double-hull oil tank barge to Reinauer Transportation Companies. The contract for the 100,000-barrel barge, announced in early 2004, was Senesco’s largest ever; it spurred a recruiting drive in which the company was aided by the R.I. Economic Development Corporation. The company’s most recent figures indicate Senesco has about 250 employees.

(Source: Providence Business News - www.pbn.com)

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