Page 3: of Maritime Reporter Magazine (July 15, 1986)

Valmet And Wtirtsilti

To Merge Shipbuilding

Operations In One Group

Two of Finland's biggest ship- yards, Wartsila and Valmet, will merge into one shipbuiding group, with Wartsila taking a controlling 70-percent interest. To begin opera- tions in early 1987, the merger will make the new group a market leader in specialty vessels, according to

Wartsila president Tor Stolpe, who is chairman-designate for the merged operation.

In merging with one of its main shipbuilding competitors and elimi- nating overlapping operations,

Wartsila company officials expect the new shipbuilding group to be- come more powerful and efficient.

Wartsila already produces about 60 percent of the world's icebreakers and some 30 percent of the luxury cruise liners, and is also a builder of ferries, craneships, and offshore ac- commodations platforms. Even so, the largest Finnish shipyards (the third is Rauma-Repola) represent only some one percent of world shipbuilding capacity. With only a small domestic market for ships, they have survived by becoming ex- perts in several specialty areas of shipbuilding.

Hartigan Assumes Duties

As New President

Of BP, North America

Ian G.S. Hartigan recently as- sumed his duties as president of BP

North America Inc., succeeding J.

Colin E. Webster, who has be- come an executive vice president of

The Standard Oil Company, a 55.5- percent-owned subsidiary of The

British Petroleum Company p.I.e.

Mr. Hartigan is located at BP

North America's New York office.

Mr. Webster has moved to Stan- dard Oil's offices in Cleveland,

Ohio.

Mr. Hartigan joined BP in 1969 and became managing director of

BP Shipping in 1984. During the last two years he has restructured

BP Shipping from a company pre- viously supplying a service to the

BP Group into one that is cost-com- petitive and operating commercially in the international shipping mar- kets.

Dillingham Restructures

West Coast Operations—

Key Executives Named

A total restructuring of Dilling- ham Corporation's West Coast mar- itime transportation operations and the appointment of several key ex- ecutives was announced recently by

J. Joseph Casey, company presi- dent and chief executive officer.

The restructuring includes the formation of Foss Maritime, a new operating company, which com- prises all of Dillingham Corpora- tion's maritime transportation oper- ations on the West Coast consisting of Foss Launch & Tug Co., Pacific

Northwest and Alaska; Dillingham

Maritime Services, the company's international ocean towing entity, and Pacific Towboat & Salvage

Company (PacTow), Long Beach,

Los Angeles and San Diego. Foss

Maritime offices are located in Seat- tle.

In making the announcement,

Mr. Casey stated that Thomas V.

Van Dawark has been named president and CEO of Foss Mari- time.

Bruce Robeson, president of

Foss Launch & Tug Co. since 1979, has announced his early retirement to pursue other interests and will be working in a consulting capacity to

Foss Maritime. Additionally, Sid- ney D. Campbell, retired chair- man of the board of Foss Launch &

Tug Co., will be serving on the new

Foss Maritime board of directors.

Under the restructuring, Foss

Launch & Tug Co. has officially changed its name to Foss Maritime.

PacTow, on the other hand, with operations in California, will contin- ue under its current name as part of

Foss Maritime.

Dillingham Corporation is a di- versified company with major activ- ities in the construction, maritime and liquid petroleum gas indus- tries.

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July 15, 1986 roquip