GLDD Sells Historic Demolition Business

Posted by George Backwell
Friday, April 25, 2014

Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for US$5.3 million.

GLDD points out that it retains the right to collect all outstanding accounts receivable and work in process at the date of close, as well as any outstanding claims, and retains certain obligations, including obligations related to performance bonds issued for existing projects. The Company also retained a significant remediation project that will be performed by its Terra subsidiary.

Jonathan Berger, Chief Executive Officer stated, “We are pleased to announce the sale of the historical demolition business as we continue to refocus our strategy and expand upon our success in environmental & remediation services that complement our core dredging business. The new ownership structure is a good fit for the historical demolition business and we wish all those related to that business, best wishes on future endeavors.”

About the Company
Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. It is also a significant provider of environmental and remediation services.
 

 


People & Company News

MN100: Metal Shark Boats

The Company: Metal Shark is a leading shipbuilder specializing in the design and production of boats and ships for military, law enforcement, fire rescue, and

JSMEA to Host Smart Ship Seminar at SMM

Onboard and ashore, IoT application services, which rely on ships’ onboard equipment data, have become increasingly prevalent throughout the maritime industry.

MN100: Safety Management Systems, LLC

The Company: A leading US maritime consultancy established in 1996, SMSLLC provides practical risk mitigation solutions for vessel operators and stakeholders.

Finance

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

Hanjin Shipping to Submit Self-Rescue Plan

South Korea’s Hanjin Shipping is planning on submitting a self-rescue plan to creditors this week to stave off bankruptcy by Aug. 25, reports Korea Herald quoting local media.

Dredging

Damen Repairs Two Van Oord Barges

Damen Shiprepair Vlissingen recently completed a broad scope of maintenance and repair works on the Van Oord-owned Split Hopper Barges Jan Blanken and Jan Leeghwater.

ROV Dredger Goes to Work in Singapore

Ellicott Dredge Technologies (EDT) announced the successful start up and installation of a state-of-the-art Mud Cat brand remotely operated vehicle (ROV) at the

Royal IHC Completes Kargest TSHD in China

After 19 months of building, trailing suction hopper dredger (TSHD) JUN YANG 1 left Kinderdijk on 15 August 2016. A ceremony to celebrate the on-time completion

Mergers & Acquisitions

Baltic Exchange Board Backs SGX Bid

The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi-billion

State to Take Reins of Alaska LNG Project

Alaska Gasline Development Corp. President Keith Meyer says the Big 3 oil companies are cooperating with the state’s desire to take full ownership of the AK LNG Project.

DP World H1 Profit Soars on Acquisitions

DP World, one of the world's largest port operators, reported a 50 percent leap in net profit for the first half of this year on Thursday, helped by the acquisitions

Underwater Engineering

Fugro, US Army Corps of Engineers Ink Mapping Deal

Fugro has been awarded a photogrammetric and LIDAR surveying and mapping contract by the U.S. Army Corps of Engineers, St. Louis District, Missouri. The agreement

Next Geosolutions Surveys Roman Ports

Next Geosolutions, an independent geoscience and engineering service provider, has secured a €1.25million (£1million) mapping and survey contract with Naples Port

First ISDS for DNV GL Classed Ocean Greatwhite

DNV GL has welcomed the world’s largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1015 sec (10 req/sec)