Composite Holdings Acquires Land for Marine Vessel Manufacturing
On 22 February, EPS Corporation’s 50-percent owned Composite Holdings Inc. (CHI) acquired approximately 37 acres and some 141,000 SF of marine composite manufacturing facilities, located off the Barge Canal on Merritt Island, Florida. This Merritt Island acquisition, combined with the 2008 acquisition of 50 percent of CHI and its over 13 acres and 89,000 SF of marine manufacturing capacity on the Indian River in Titusville, Florida, provides EPS and its affiliate CHI about 50 acres of Florida waterfront property and over 230,000 SF of modern marine composite manufacturing facilities. “EPS is excited about this investment in the area. We expect great things moving forward with our line of marine vessels, which will be manufactured at these facilities,” said Mr. Francesco A.
First American-built EPS M10 Hovercraft Commissioned
On June 15, 2011, the EPS M10 Hovercraft was commissioned as the “Al-Wajh.” Hovercraft Al-Wajh is the first of two to be delivered by EPS Corporation of Tinton Falls, NJ, to the Kingdom of Saudi Arabia Ministry of Interior Border Guard. The Commissioning Ceremony was held at the Border Guard Base at Aziziyah. In attendance at the commissioning were the Director General of the Saudi Border Guard, St. Maj. General Zamaim J. Al-Swat, the Assistant Director General, Rear Admiral Awwad Eid Al-Balawi, EPS Chairman and CEO, Mr. Francesco A. Musorrafiti, Mr.
