Trinity Marine Group Acquires Lockheed Shipbuilding Yard

Deal Includes Transfer Of LCU Building Contract Trinity Industries, Inc., recently announced that its wholly owned subsidiary Halter Marine, Inc., has signed an agreement to purchase the shipbuilding business and certain assets of the Lockheed Shipbuilding Company in Thunderbolt, Ga., near Savannah.

The transaction includes transfer of a contract with the U.S. Army Troop Support Command for the construction of twenty-three 174- foot Landing Craft Utility (LCU) ships. The Army holds options for 12 additional LCUs which could bring the total contract value to approximately $144 million. The Army has approved the transfer.

The announcement was made by John Dane III, president of the Trinity Marine Group which operates Trinity Industries shipyards.

Mr. Dane said that, while no final decision has been made on transfer of work, some of the work would be done at Moss Point Marine, Escatawpa, Miss., because of facility constraints at the Thunderbolt shipyard.

"This will have positive effects in Mississippi and Louisiana, " said Mr. Dane. "It will maintain employment levels at Moss Point and stabilize employment at our Halter- Lockport, La., shipyard. Three 175- foot, 100-ton Army crane barges valued at a total of approximately $16 million, which were slated for Moss Point, will now be built at Lockport.

The Georgia facility will be renamed Thunderbolt Shipbuilding and Repair, Inc. Dan Sentilles has been named the manager of the yard.

"As the new name indicates, we are expanding the service and product mix of Thunderbolt. The shipyard will continue to build components for the LCUs and we are already bidding on overhaul and repair work for the facility," said Mr. Dane.

The purchase of the Thunderbolt facility is the second major acquisition the Trinity Marine Group has made in recent months. Late last year, the group purchased the Crown Point, La., yard of Aluminum Boats, Inc.

In addition to the new Thunderbolt yard and Aluminum Boats, Inc., facility, the Trinity Marine Group includes four other shipbuilding companies and six other shipyards in Louisiana and Mississippi.

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Maritime Reporter Magazine, page 48, Feb 1989

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