Halter Marine Will Build Tugs for Lockheed Martin

Halter Marine, Inc (HMI), a division of Friede Goldman Halter, Inc. (FGHLQ) announced that it has received a Letter of Intent from Lockheed Martin Overseas Corporation to design, and build two Voith Schneider Tractor Tugs. This is a portion of a contract that Lockheed Martin signed with the Egyptian Ministry of Transport earlier this month. Lockheed has released funding for design and planning at this time, with details on the remainder of the project to be finalized later. The project is expected to take twenty-six months to complete. Anil Raj, Chief Operating Officer for Friede Goldman Halter said, “The partnership between Halter Marine and Lockheed is added confirmation that demand for quality vessels produced by Halter continues to grow internationally. When coupled with Lockheed Martin’s Vessel Traffic Information Management System (VTIMS), Egypt will have all the necessary capabilities to support navigation traffic management and maritime response efforts in the Gulf of Suez. This selection is important to Halter as it finalizes its’ plan to emerge from the Chapter 11 process”