Signet Maritime acquires Harvey Gulf OTV fleetCompany News // May 19, 2014
Signet Maritime Corporation has completed its acquisition of eight Harvey Gulf International Marine offshore towing vessels (OTVs) ranging in size from 75 tonnes to 153 tonnes bollard pull.
The sale will encompass all Harvey OTVs, spares, business and supplies. Signet has committed to retention of all crew members and plans for Tier 3 Generation of power onboard all eight tugs with conversions starting immediately.
The purchase expands Signet’s vessel classes and allows the company to broaden its service, offering over 38 ASD tractor and conventional vessels to customers in the Gulf of Mexico and worldwide.
When combined, the modern fleet under Signet ownership and operation will average 11 years of age.
“The combination of Harvey and Signet follows a thorough due diligence process and is fully consistent with our strategy of being a 'one-stop turnkey' source for all our customers’ needs,” stated J Barry Snyder, Signet’s President.
“This acquisition will accelerate our growth plans and we are very excited to welcome the talented and hardworking employees of Harvey OTVs to the Signet team.”
Shane J Guidry, Chairman & CEO, Harvey Gulf said: “Our two companies share a strong culture of entrepreneurship and a focus on quality and service to the customer. I look forward to seeing the talented people of Harvey and Signet work together as we continue to fulfill our commitment to meet all our customer needs.”