Marine Services Division Buys Remaining Interest In GIMC

Houston Natural Gas Corporation (HNG), Houston, Texas, has announced that the Marine Services Division of its wholly owned subsidiary Pott Industries Inc. of St. Louis, Mo., had purchased the remaining 50 percent interest in a previously held joint venture company, Gulf International Marine Corporation (GIMC).-The Marine Services Division's previous partner in the joint venture was International Marine Services.

Terms of the purchase were not disclosed.

GIMC is engaged ii) the operation of marine service vessels for the offshore petroleum industry in the Arabian Gulf area and is headquartered in Dubai, United Arab Emirates. The company currently owns 17 vessels, including ocean tugs, supply and crewboats, and barges. Another Pott subsidiary, Gulf Mississippi Marine Corporation, also services the offshore petroleum industry in the Arabian Gulf, as well as the North Sea and the Gulf of Mexico.

Pott Industries and its subsidiaries are engaged in marine transportation on the United States inland and intracoastal waterways, service worldwide to the offshore petroleum industry, and construction and repair of towboats, barges and dredges. The Marine Services Division is headquartered in New Orleans, La.

HNG's other principal lines of business are intrastate natural gas transmission, oil and gas exploration and production, coal mining and production, and marketing of carbon dioxide and other industrial gases.

Maritime Reporter Magazine, page 21, Jul 1978

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.