Page 15: of Maritime Reporter Magazine (March 1983)
Of Cargo Liners
Moore McCormack Resources,
Inc. of Stamford, Conn., an- nounced recently that it has closed the previously announced sale of its cargo liner subsidiary,
Moore McCormack Lines, Incor- porated, to McLean Securities,
Inc., the parent company of
United States Lines, Inc.
At the closing, Moore McCor- mack Resources received $30 mil- lion in cash and $30 million par value of cumulative preferred stock of McLean, having a reg- ular dividend rate of 11 percent per annum and to be redeemed over a five year period. In addi- tion, the sale also reduced Re- sources' long-term debt by ap- proximately $50 million. As pre- viously indicated, Resources ex- pects to recognize a profit on the transaction in its first quarter 1983 results.
James R. Barker, chairman and chief executive officer of
Moore McCormack Resources, commented: "The sale of Lines, our original business, is a very significant step. Conversion of
Lines to a more highly container- ized, intermodal operation, with broader trade routes and market- ing network, has become increas- ingly necessary to maintain its efficiency and profitability. We feel that the sale to the parent of United States Lines, a sub- stantial worldwide carrier, is the most appropriate way for Lines to continue its growth and prog- ress." $5.5-Million Sub Planning
Contract Awarded To
Electric Boat Shipyard
General Dynamics Corporation,
Electric Boat Division, Groton,
Conn., has been awarded a $5,- 586,261 cost-plus-fixed-fee con- tract for providing planning yard support for the deployment/oper- ational phase of Ohio-class sub- marine life cycle program. The
Naval Sea Systems Command,
Washington, D.C., is the con- tracting activity (N00024-83-C- 2000).
New Brochure Contains
Raytheon Radar Comparison
And Offer Of Free Life Vests
A new brochure is available from Raytheon Marine Company,
Manchester, N.H., comparing fea- tures offered in their 1983 line of radars. Eight models are avail- able, from Raytheon's compact 6-inch display 2600 MK III and 2800 MK II Mariners Pathfinder®
Radars with new expanded ranges, to the top of the line 10- inch display 1010 Mariners Path- finder Bright Display Radar.
With every purchase of a Ray- theon radar, from February 1 to
June 30, 1983, purchasers can receive free lifevests, either three adult and two children Type III
USCG-approved PFDs, or three commercial Type I USCG-ap- proved PFDs. "Raytheon has always pro- vided the highest quality of a large selection of radars designed to suit every boatowner's needs," said Raytheon Marine Company's
Stanley Clark. "Our free-lifevest offer this spring is one more ex- pression of Raytheon's commit- ment to helping boatmen main- tain the greatest level of safety in all kinds of weather."
The brochure details Ray- theon's new 1010 radar offering, for the first time, a 10-inch radar with digital bright display. This, and the many new and popular models are described.
The free lifevest offer is avail- able through participating Ray- theon dealers in the U.S. and
Puerto Rico. Raytheon offers a two-year limited parts warranty with one-year free onboard serv- ice from any of the company's
U.S. dealers and worldwide serv- ice network.
The four-page Raytheon Ra- dar Comparison Brochure in- cludes model dimensions, ranges, suggested prices, a listing of par- ticipating dealer locations, and lifevest offer information.
For a free copy,
Write 18 on Reader Service Card
Built-in fuel economy with
Fuel econ- omy designed-in from the start—that's what Bulkfleet wanted in their new, deep-notch tug/barges. That's why they decided to burn lower-cost heavy oil in their diesels. And why they specified
Westfalia Oil Purifiers in preassembled
CENTRI-PACK modules to get rid of impurities and water.
The result: a whopping 25% sav- ing in fuel costs and longer engine life, because clean oil prevents rapid wear and premature engine breakdown.
Westfalia Oil Puri- fiers because of their reliability and high efficiency. In
CENTRI-PACK con- figuration, the Puri- fiers come with all accessory components mounted in place—pre-piped and pre- wired, ready for fast, easy installation.
CENTRI-PACK also cleans lube oil... gets rid of the carbon and metal par- ticles that can damage diesel engines. This is another boost for engine life, plus solid savings in lube oil expense.
Westfalia Oil Purifiers save money wherever fuel or lube oil is used. Ask us for the name of your nearest
Westfalia marine distribu- tor... he'll show you how.
Centrico, Inc. 100 Fairway Court
Northvale, NJ 07647 201/767-3900
Courtesy Bulkfleet Marine Corporation
March 1, 1983 Write 7532 on Reader Service Card 17