Bollinger Shipyards Acquires Gulf Island Fabrication’s Shipyard Facilities
April 19 2021 - 4:12PM
Business Wire
Cements Bollinger’s position as the largest
American privately-owned and operated shipbuilder in the United
States
Transaction includes 437-acre waterfront
facility with 198,000 sq. ft. of existing operations, fabrication
and warehouse space, and 4 floating drydocks
Acquisition expands new construction and repair
capacity and capabilities to better serve key defense and
commercial customers
Bollinger Shipyards (“Bollinger”), a privately-held leading
designer and builder of steel military and commercial vessels for
the past three quarters of a century, today announced that it has
acquired Gulf Island Fabrication, Inc.’s (“Gulf Island”) (NASDAQ:
GIFI) Shipyard facilities, expanding Bollinger’s new construction
and repair capacity and capabilities to better serve its key
defense and commercial customers. Financial terms of the
transaction were not disclosed.
This acquisition creates expanded opportunities for Bollinger to
better serve and deepen its relationships with key defense and
commercial customers with an increased capacity for new projects
and footprint, access to a larger workforce skilled in steel
construction, improved efficiencies and enhanced economies of
scale. Current customers for Bollinger include the U.S. Coast
Guard, U.S. Navy, General Dynamics-Electric Boat, and non-defense
and commercial customers servicing energy production to dredging.
Gulf Island had been building the Towing, Salvage and Rescue Ships
(T-ATS) for the U.S. Navy and Regional Class Research Vessels for
the National Science Foundation and Oregon State University. These
projects conveyed with the transaction.
“The addition of the new Houma shipyard further strengthens our
position within the U.S. defense industrial base as a leading
shipbuilder and vessel repair company,” said Ben Bordelon, CEO and
President of Bollinger Shipyards. “For 75 years, we’ve developed a
deep expertise in and proven track record of building reliable,
high endurance steel vessels for the Coast Guard, Navy and our
commercial customers. As the needs of these customers change and
grow, we are constantly looking for ways to invest in and expand
our capabilities and innovative solutions so that we can continue
to provide them with the highest levels of quality, support and
service in our industry.”
Bordelon continued, “For three quarters of a century,
Bollinger’s greatest strength has and continues to be our people
and their American ingenuity and quality craftsmanship. I am
excited to welcome the Gulf Island Shipyard employees into the
Bollinger family. Together, we will ensure that the ‘Bollinger
Standard’ will be the high bar we measure ourselves against for
superior quality and safety as we work to deliver the next
generation of American made high-performance vessels for our
government and commercial customers.”
The new Bollinger Houma facility encompasses 437 acres on the
west bank of the Houma Navigation Canal, of which 283 acres is
unimproved land that is available for expansion. The facility
includes 18,000 square feet of administrative and operations
facilities, 160,000 square feet of covered fabrication facilities
and 20,000 square feet of warehouse facilities. It also has 6,750
linear feet of water frontage, including 2,350 feet of steel
bulkheads. Located just 30 miles from the Gulf of Mexico, the
strategic location provides short and unrestricted access to the
newly acquired Houma facility from open waters.
The acquisition also includes a 15,000-short ton drydock, a
4,000-short ton drydock, a 3,000-short ton drydock and a
1,500-short ton drydock.
Bollinger’s acquisition increases the shipyard’s growing new
construction and repair portfolio. In December of last year,
Congress appropriated funds for Bollinger to build four additional
Sentinel Class Fast Response Cutters (FRC) for the U.S. Coast
Guard. In addition to construction of the FRC, Bollinger is under
contract to construct an Ocean Transport Barge and Floating Dry
Dock for General Dynamics Electric Boat Division. In addition,
Bollinger is participating in industry studies for five Government
programs, including the U.S. Coast Guard’s Offshore Patrol Cutter
(OPC) program, the U.S. Navy’s Common Hull Auxiliary Multi-Mission
Platform (CHAMP) program, the U.S. Navy’s Auxiliary General Ocean
Surveillance (T-AGOS(X)) program, the U.S. Navy’s Large Unmanned
Surface Vehicle (LUSV) program and the U.S. Navy’s Light Amphibious
Warship (LAW) program.
About Bollinger Shipyards LLC
Bollinger Shipyards LLC (www.bollingershipyards.com) has a
75-year legacy as a leading designer and builder of high
performance military patrol boats and salvage vessels, research
vessels, ocean-going double hull barges, offshore oil field support
vessels, tugboats, rigs, lift boats, inland waterways push boats,
barges, and other steel and aluminum products from its new
construction shipyards as part of the U. S. industrial base.
Bollinger has 11 shipyards, all strategically located throughout
Louisiana with direct access to the Gulf of Mexico, Mississippi
River and the Intracoastal Waterway. Bollinger is the largest
vessel repair company in the Gulf of Mexico region.
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version on businesswire.com: https://www.businesswire.com/news/home/20210419005880/en/
Media Eric Bollinger Vice President of Sales Tel.:
985-532-2554 E-mail: ericb@bollingershipyards.com
TJ Tatum Sard Verbinnen & Co. Tel.: 954-649-3581 E-mail:
ttatum@sardverb.com
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