Page 16: of Maritime Reporter Magazine (December 1981)

Three Top Management

Changes At Levingston

Edward E. Paden, president of

Levingston Industries, Inc., has announced three senior manage- ment assignments resulting from the formation of two new compa- nies within the Levingston Group.

Joe Barrios, currently presi- dent of Levingston Shipbuilding

Company, has been appointed president of the newly formed

Levingston Trading Company, based in Orange, Texas.

John Serrie, currently vice president, operations, succeeds

Mr. Barrios as president of Lev- ingston Shipbuilding Company.

Joe Wise, president of Leving- ston Marine Corporation, based in

Annapolis, Md., is appointed to the additional position of presi- dent of the newly formed com- pany— Levingston International,

A.G., which will be based in Zug,

Switzerland.

Commenting on the formation of Levingston Trading Company,

Mr. Paden said that Levingston's recent technology exchange pro- grams with Ishikawajima-Harima

Heavy Industries Co., Ltd., and its long association through li- censing with Mitsui Engineering and Shipbuilding Company, Ltd., had illustrated the attractiveness of the trading company approach as practiced by the large Japan- ese engineering groups. Leving- ston Trading Company will ini- tiate a similar approach through the activities of five existing Lev- ingston Group companies—three marine equipment manufacturing companies, an equipment leasing company and a marine supply company.

With regard to the formation of Levingston International, Mr.

Paden said that for several years now Levingston has been sup- porting its overseas licensees through the provision of engi- neering services and the procure- ment of U.S.-manufactured equip- ment and supplies. The establish- ment of a specialized organiza- tion is a logical development for the coordination of these over- seas activities.

Mr. Paden also commented on the continued expansion of the

Levingston Group's activities.

Revenues have grown at an an- nual rate in excess of 25 percent over the past five years and are expected to continue to grow at about this rate. In order to keep each of the Group's activities at a manageable level it was neces- sary to create additional compa- nies within the Group. Leving- ston's activities will now be orga- nized into four principal compa- nies, all subsidiaries of Leving- ston Industries, Inc.:

Levingston Shipbuilding Com- pany, in Orange, Texas, which builds offshore rigs and commer- cial ships and is currently bid- ding on U.S. Navy shipbuilding contracts; Texas Gulfport Ship- building Company, in Port Ar- thur, Texas, which builds rigs and other offshore equipment and operates Levingston's ship repair facilities, with the largest exist- ing fleet of drydocks on the Gulf

Coast; Levingston Trading Com- pany, in Orange, Texas, which will manage Levingston's activ- ities in the development, produc- tion, sale, and leasing of marine equipment and supplies; and Lev- ingston Marine Corporation, in

Annapolis, Md., which provides naval architectural and marine engineering services, including engineering support of six over- seas shipbuilding companies that are currently licensed to build

Levingston-designed drill rigs.

Mr. Paden went on to say that he expects Levingston to continue to grow in its traditional markets with orderly diversification into other marine-related activities.

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