Heidenreich Marine Implements New Organizational Structure
Heidenreich Marine plans to implement a new organizational structure. The purpose of the new structure is to better serve the company's existing customers and pool partners and to facilitate Heidmar's growth in oil transportation and related industries. A new parent company, which will be called Heidmar Inc. will be formed to provide oversight of all the Heidmar companies and to manage the strategic growth of the organization. Per Heidenreich, currently the President of HMI, will become the Chairman and CEO of Heidmar. Charles Tammara, who is currently a Vice President and CFO of HMI, will become an Executive Vice President and CFO of Heidmar.
Morovich Joins Tidewater's Senior Management Team
Tidewater Inc. announced that Nancy Morovich has joined Tidewater as senior vice president. Morovich, who will report to Chairman, President and CEO Dean Taylor, will be responsible for strategic planning and analysis activities required to support the company's growth and business development initiatives, including potential mergers and acquisitions. She will also oversee Tidewater's information technology activities, and be involved in corporate compliance efforts. Morovich joins Tidewater following a 15 year career with Entergy Corporation where she held various positions in the finance organization. In her most recent position as Vice President, Planning and Financial Communications, she oversaw strategic planning, corporate planning and investor relations activities.
Bill Introduced to Reform DHS Science Programs
Representative Reichert (R-WA) introduced a bill (H.R. 4941) to reform the science and technology activities of the Department of Homeland Security, and for other purposes. (3/14/06). Source: HK Law
Blending Finnish and Italian Flair
It is testament to the Finnish spirit that diesel engineering force Wärtsilä NSD, having suffered bruising financial results in 1998, has staged an effective fightback based in part on tactical change and in part on increased control of every theater of its operations. As the latest expression of the corporation's growing influence on the industry in Europe, the famous Grandi Motori Trieste name and its vast engine manufacturing complex on Italy's northeastern border with Slovenia, have been subsumed into the Finnish-controlled group and retitled Wärtsilä NSD Italia. Occupying a total area of 550,000-sq.-m., including 150,000-sq.-m. under cover, the Trieste plant is one of the most extensive in the world.
Kvaerner Sells Fabrication Yard, Changes North Sea Strategy
Kvaerner is selling its U.K. Teesside fabrication yard and reducing its reliance on North Sea offshore business, a company official said. The decision to sell the 36-acre facility was a result of the company's shifting strategy, as U.K. and European construction yards faced bleak prospects from dwindling North Sea orders, the official said. A handful of workers remain at the yard, which once employed 3,000, to help in the clear-up operations. The sale is expected to take at least three months. Kvaerner, which was badly burned last year after posting a record pre-tax loss, will be looking at subsea technology activities while expanding its business in the Gulf of Mexico and offshore Africa.
