Page 95: of Maritime Reporter Magazine (November 1999)

Newport News Wins Two Ship Repair Contracts Successful completion and funding of the $225 million debtor in possession financing is subject to the receipt of non-binding financing commitments for the balance of the company's financing requirements and satisfaction of certain other conditions. The debtor in possession financing also is subject to approval of the U.S. Bankruptcy Court and the Bermuda and Cayman Island courts. Pruftechnik Joins Up With Wibrem Pruftechnik of Ismaning, Germany, and Wibrem, of Wroclaw, Poland, have entered into a new joint venture with the goal of combining the diagnostic and service activities of both firms within a new enterprise. Known as Pruftechnik-Wibrem, the company's CEO will be Marek Dudzinski, whose team from the parent company Wibrem will be Alex Bonnyman, a Military Sealift Command (MSC) pre-positioning ship chartered through Maersk Lines. Newport News Shipbuilding (NNS) has been awarded two separate contracts for shiprepair work for vessels M/V 1st Lt. Alex Bonnyman and SS Cape Nome. Bonnyman, a Military Sealift Com-mand (MSC) pre-positioning ship char-tered through Maersk Lines, will under-go hull blasting and painting; tank blast-ing and painting; overhaul of deck cranes; survey and repair of main propulsion equipment and repair of machinery components. Measuring 775 ft. (236.2 m) with a beam of 90 ft. (27.4 m), Bonnyman arrived at NNS on October 1 where it remained for about one month. Cape Nome, A MarAd cargo ship managed by American Overseas Marine Corp. (AMSEA). A MarAd cargo ship, the 602 ft. (183.4 m) Cape Nome, which is man-aged by American Overseas Marine Corp. (AMSEA), arrived at NNS on October 4 for inspection of sea valves and testing for structural integrity for a period of six days. ICO Wins Backing From Investors ICO Global Communications has received non-binding letters of intent for debtor in possession financing from strategic investors in excess of $225 million, the amount needed to finance the company's immediate cash needs. The non-binding letters were reported to the bankruptcy court in Delaware. November, 1999 Circle 227 on Reader Service Card 97 Just ask our customers. Although we use the same materials (welding rods included) other shipyards do, the end result is always better than expected. So, what makes the difference? Some customers will say our network of six shipyards, three at Galveston and three farther up the ship channel in Houston, is why they chose Newpark Shipbuilding. Others will say it's the experienced people who manage and work at our yards. And then there are those who will claim that our excellent records in safety and on-time delivery are what made Newpark their first choice. Regardless of why they chose Newpark, they all agree on one thing. It's the high level of service and the quality of the work that brings them back. It won't take long to show you. If you'd like to see the Newpark facilities and some of the work we're currently doing, call Francis Fair at 409.741.4200. He'll be glad to show you how Newpark people can give you more than you expect on your next project. rgFirstWave ?i NEWPARK SHIPBUILDING. 2102 Broadway, Houston, TX 77012