Friede Goldman International News

Ocean Rig ASA and Friede Goldman International have reached an agreement on new delivery dates for Ocean Rigs Bingo 9000-1 and 9000-2: March 31, 2000 and June 30, 2000, respectively. The dual deepwater semisubmersible rigs, are currently under construction at Friede Goldman's Pascagoula, Miss. location, where the company recently completed its sixth milestone for Bingo 9000-2, worth $28 million.

Ocean Rig ASA and Friede Goldman International have reached an agreement on new delivery dates for Ocean Rigs Bingo 9000-1 and 9000-2: March 31, 2000 and June 30, 2000, respectively. The dual deepwater semisubmersible rigs, are currently under construction at Friede Goldman's Pascagoula, Miss. location, where the company recently completed its sixth milestone for Bingo 9000-2, worth $28 million.

Friede Goldman International Inc. (FGI) has signed a $143.2 million contract with Rudgil SA, a subsidiary of Schahin Engenharia e Comercio Ltda. The Millennium SA (South America) is the latest in new, deepwater semisubmersible designs from FGI subsidiary Friede & Goldman, Ltd., (F&G) a New Orleans-based naval architecture and marine engineering company. Equipped as a dynamically positioned semi with a DPS-2 station keeping system, the Millennium SA is capable of drilling in 5,000 ft. of water with a variable deck load of 3,500 long tons. F&G will perform engineering work on the project in conjunction with Friede Goldman Offshore, East in Pascagoula, Miss., where the rig will be constructed.

Halter Marine Group and Friede Goldman International have agreed to amend the terms of their proposed merger due to developments related to a contract dispute with a significant customer, as previously disclosed by Friede Goldman. Under the revised merger agreement, each Halter share will be converted into 0.57 of a share of Friede Goldman. The closing under the revised merger agreement will also be subject to the arrangement o bank financing for the combined company on terms mutually agreeable to Halter and Friede Goldman. Announced on June 1, the merger proposal originally provided for the exchange of 0.4614 of a Friede Goldman share for each Halter share.

Friede Goldman International stated that its activities related to its pending merger with Halter Marine Group were progressing on schedule. The company has received commitments from a group of banks led by Wells Fargo and Bank One for a credit facility that will meet the financing needs of the combined company. Response from shareholders of both companies to the proposed merger has been positive based on proxies received through October 25. Transition teams have been meeting in an effort to assure an organized integration of the operations and management of the two companies.

Friede Goldman International stated that its activities related to its pending merger with Halter Marine Group were progressing on schedule. The company has received commitments from a group of banks led by Wells Fargo and Bank One for a credit facility that will meet the financing needs of the combined company. Response from shareholders of both companies to the proposed merger has been positive based on proxies received through Octber 25. Transition teams have been meeting in an effort to assure an organized integration of the operations.

Friede Goldman International, Inc. and Halter Marine Group Inc. have announced the two companies have completed their previously announced merger and the name of the combined company is now Friede Goldman Halter, Inc. The new company will begin trading on the New York Stock Exchange on November 4, under the new symbol "FGH."

Friede Goldman In Deal To Buy Halter Marine In a deal that will create the U.S.’ most prolific offshore building company, Friede Goldman International Inc. announced plans earlier this week to buy ship builder Halter Marine Group Inc. The agreement is valued at about $220 million calls for each Halter share to be exchanged for 0.4614 share of Friede Goldman.