Bollinger Shipyards (“Bollinger”), the largest privately-owned and operated shipbuilder in the United States, today announced that it has entered into an agreement to acquire VT Halter Marine, Inc. and ST Engineering Halter Marine Offshore (“STEHMO”), together a leader in the design, engineering, construction, and repair of complex, state-of-the-art vessels for government and commercial customers, from parent company ST Engineering North America, a leading technology, defense and engineering group.
The transaction expands Bollinger’s new construction and repair capacity and capabilities to better serve its key defense and commercial customers.
Acquisition cements Bollinger’s position as a globally recognized, leading designer and builder of high-performance vessels and complex structures for government and commercial customers
Transaction includes key U.S. Government programs, including USCG Polar Security Cutter, U.S. Navy Auxiliary Personnel Lighters and Repair Facility
Transaction expected to close in Fourth Quarter of 2022
(Lockport, LA) — Bollinger Shipyards (“Bollinger”), the largest privately-owned and operated shipbuilder in the United States, today announced that it has entered into an agreement to acquire VT Halter Marine, Inc. and ST Engineering Halter Marine Offshore (“STEHMO”), together a leader in the design, engineering, construction, and repair of complex, state-of-the-art vessels for government and commercial customers, from parent company ST Engineering North America, a leading technology, defense and engineering group. The transaction expands Bollinger’s new construction and repair capacity and capabilities to better serve its key defense and commercial customers.
“For over 75 years, my family has been dedicated to providing our government and commercial customers with the highest levels of quality, support and service in the U.S. shipbuilding industry,” said Ben Bordelon, CEO and President of Bollinger Shipyards.
“The addition of VT Halter Marine and STEHMO in Pascagoula, Mississippi is strategic as it further strengthens our position in the industry and U.S. defense industrial base by allowing Bollinger to expand our footprint, capabilities and suite of innovative solutions that we can provide to our customers.From Day One, the Bollinger team will leverage our proven and best-in-class management team, operational excellence and existing capability to ongoing commercial and government programs, especially the Polar Security Cutter program.”
This acquisition creates expanded opportunities for Bollinger to better serve and deepen its relationships with its key defense and commercial customers with an increased capacity and footprint, improved efficiencies, enhanced economies of scale, and access to a large skilled workforce, including increased engineering capacity. It also brings expanded capabilities for future programs, including an ACAT I program.
Bollinger’s acquisition increases the shipyard’s growing new construction and repair portfolio. All ongoing programs are to be conveyed with the transaction. Notably, the Polar Security Cutter (PSC) program for the U.S. Coast Guard and the Auxiliary Personnel Lighter-Small (APL(S)) program for the U.S. Navy. Given the proximity to Bollinger’s existing facilities, Bollinger will be able to support further efficiencies and resolution of any potential capacity constraints.
About ST Engineering North America
ST Engineering North America is the U.S. subsidiary of ST Engineering (SGX: S63), a global technology, defense and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defense and public security segments.
With our U.S. headquarters based in Alexandria, VA, we have major operations in over 50 cities across 23 states, employing about 7,000 people in the country. At ST Engineering, we enable a more secure and sustainable world through innovative technology, products and solutions across diverse market segments.
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Source: Bollingership
