Mississippi
Louisiana-based Bollinger acquires Mississippi yards
LOCKPORT, La. (AP) — Louisiana-based Bollinger Shipyards, a significant protection contractor, has agreed to buy 4 Mississippi shipyards from subsidiaries of Singapore-based Singapore Applied sciences Engineering Ltd., the businesses introduced Monday. The $15 million buy of VT Halter Marine, Inc. and ST Engineering Halter Marine Offshore includes 2 shipyards in Pascagoula and two dormant yards north of Pascagoula. They are going to be renamed Bollinger Mississippi Shipbuilding and Bollinger Mississippi Restore. The deal may additionally imply an extra $10 million for ST Engineering from future shipbuilding contracts for Halter Marine.
Bollinger mentioned in a information launch it expects the deal to be accomplished by the top of the yr.
“The addition of VT Halter Marine and STEHMO in Pascagoula, Mississippi is strategic because it additional strengthens our place within the business and U.S. protection industrial base by permitting Bollinger to increase our footprint, capabilities and suite of modern options that we are able to present to our clients,” Bollinger CEO Ben Bordelon mentioned.