Trinity Industries To Buy Bethlehem Steel's 74-Acre Beaumont, Texas, Facility

Bethlehem Steel Corporation recently confirmed that it has signed a letter of intent with Trinity Industries, Inc. of Dallas, Texas, for the sale of its 74-acre Beaumont facility.

David H. Klinges, president of Bethlehem's marine construction division, said that Bethlehem is pleased that a major Texas-based company is purchasing the former ship repair yard with its buildings, shops, machinery, and other facilities, since it should provide new job opportunities for local residents and help stabilize the economy of the City of Beaumont.

Mr. Klinges acknowledged the assistance and efforts by Beaumont's Mayor Maury Meyers, as well as State Representative Mark Stiles, in attracting Trinity Industries as the potential buyer, and the involvement of Congressman Jack Brooks and U.S. Senators Bentsen and Gramm in helping to identify alternative uses of the yard.

Located on the Neches River, the Beaumont facility was purchased by Bethlehem Steel in 1947. The facility was used to design, build and repair commercial and military vessels and mobile offshore drill rigs, and fabricate industrial products.

The yard was closed in August 1988.

In connection with this divestiture, Bethlehem recorded a restructuring charge in the fourth quarter of 1987.

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Maritime Reporter Magazine, page 7, May 1989

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