Bollinger acquires FGH repair activities Yard News
// June 5, 2000
Bollinger Shipyards in Lockport, Louisiana, has signed a definitive agreement to purchase the vessel repair division of Friede Goldman Halter (FGH) for $80 million in cash. The acquisition, which consists of five vessel repair yards, is expected to be completed in July. The addition of the FGH facilities makes Bollinger the largest vessel repair company in the Gulf of Mexico region with a total of 43 dry-docks.The announcement made by Donald 'Boysie' Bollinger, Chairman and CEO of Bollinger Shipyards stated that "this is a continuation of the expansion of our core ship repair segment which has been our foundation since we started 54 years ago. We feel this isa perfect fit for Bollinger since it adds additional capacity, a broader customer mix, and a better geographical distribution to assist our customers. We look forward to welcoming the additional 800 employees into the Bollinger family."The shipyards involved are currently operating as: Halter Gulf Repair, New Orleans; Gretna Machine & Iron Works, Gretna, Louisiana; Halter Calcasieu, Carlyss, Louisiana; Bloodworth Bond-Houston, Houston, Texas; and Bloodworth Bond-Texas City, Texas City,Texas.Bollinger will change the names of the facilities once the transaction is completed.The acquisition will result in a Bollinger repair/conversion presence in New Orleans, Algiers, Gretna, Harvey, Lockport, Larose, Port Fourchon, Amelia, Morgan City and Carlyss, Louisiana, along with Houston and Texas City, Texas, and add the barge cleaning, gas freeing and flaring operations of Gretna and Calcasieu to similar Bollinger services in Amelia.
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