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    Friede & Goldman Ltd sold

    News // June 7, 2002
    United Heavy BV, a division of United Heavy Machinery, has purchased the naval architecture and marine engineering business unit Friede & Goldman Ltd (FGL) from Friede Goldman Halter for a sum of $15 million.

    "We are pleased with the outcome of this auction," said Jack Stone, President and Chief Executive Officer of Friede Goldman Halter. "The competitive bidding for FGL shows the level of confidence the marketplace has in the products and services offered byFriede & Goldman Ltd and in its future."

    The terms of the agreement provide continued access to FGL design technology for Friede Goldman Offshore.

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