Americraft Marine Group Names Hugel CFO
Americraft Marine Group, a U.S.-based maritime subsidiary of the Libra Group, announced it has named Eric C. Hugel, CFA, CPA as its new chief financial officer (CFO).A seasoned financial business professional with over 30 years of leadership experience in public and private sectors, Hugel was most recently co-CEO and CFO of Hugel Corporation, a privately-owned family business. Hugel has also served on the board of directors of IEH Corporation (IEHC), a publicly traded aerospace and defense supplier, since 2016 and served as the chairman of IEH’s audit committee since 2019.
Sovcomflot IPO Expected to Price at Low End of Range
Russian shipping company Sovcomflot is guiding investors to expect its initial public offering (IPO) to price at the low end of the marketing range, two bookrunners organizing the transaction said on Tuesday.The first big stock market float by a Russian company in a couple of years comes as wider investor sentiment towards Moscow has turned negative after the poisoning of Kremlin critic Alexei Navalny, protests in Belarus and renewed clashes in Nagorno-Karabakh.Russian assets…
Austal Awarded FCL by DoD
Austal USA has been awarded a facility clearance (FCL) by the US Department of Defense. The achievement elevates Austal USA to a new level of US defense supplier, allowing the shipyard to Prime for future classified US Government shipbuilding projects. The clearance was awarded after Austal USA entered into a Special Security Agreement (SSA) with the US Government following a process spanning more than three years, in which the company had to satisfy strict criteria surrounding foreign ownership, control or influence.
Wärtsilä Power for New Zealand Project Protector
The offshore patrol vessels to be built by Tenix Defence Pty Ltd for the New Zealand Navy will be equipped with Wärtsilä propulsion systems. Wärtsilä won contracts for propulsion systems for the seven-vessel Project Protector of the Royal New Zealand Navy. The main contractor for the project is the Australian defense supplier Tenix Defence Pty Ltd, on behalf of the New Zealand Ministry of Defense. The project is for the supply of seven vessels: a 429ft (131m) multi-role vessel (MRV), two 279ft (85m) offshore patrol vessels (OPV) and four 180ft (55m) inshore patrol vessels (IPV). The first will be delivered December 2006. The vessels are intended for military and civilian roles in New Zealand's Exclusive Economic Zone (EEZ), in the South Pacific and the Southern Ocean.
