Page 39: of Maritime Reporter Magazine (March 2001)

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Raytheon Marine Purchased By

Management Buyout Group

The management of Raytheon Marine

Company (RMC) has successfully pur- chased the recreational marine products division for $108 million. The manage- ment buyout team was backed by the

European venture capital firm Mercury

Private Equity. Led by CEO Rick

Kane, former managing director of

RMC, the management buyout group is comprised of five additional managers from the leadership team with extensive experience in product development, logistics, manufacturing and finance.

The new company will operate as Ray- marine Company.

The Company is firmly established as a technological leader in marine naviga- tion equipment with award winning products such as the Pathfinder radar;

Autohelm Series of autopilots and instruments; and Raychart navigation systems.

The sale includes Recreational

Marine's headquarters and manufactur- ing operations in Portsmouth, U.K. and its sales and engineering operations in

Nashua, N.H. and Fort Lauderdale, Fla.

There are approximately 575 employ- ees at these sites.

The management buyout group stated that there are no plans of downsizing the workforce.

Kobelt Establishes Presence In

Houston, Texas

Kobelt Manufacturing has opened an office in Houston, Texas in order to expand upon its presence in the Latin

America and Gulf of Mexico market- place.

The Houston office will be located at:

Kobelt Americas, 11600 Jones Rd., Ste. 108-10, Houston, TX 77070, tel: (281) 517-5126; fax: (281) 517-5127.

GE Marine Starts Engineering

For Eighth LHD

GE Marine Engines has received par- tial funding from Ingalls Shipbuilding to begin the engineering work on equip- ment to be used on the U.S. Navy's eighth LHD Wasp-class large-deck, multipurpose amphibious assault ship.

Measuring 844 ft. (257.2 m), the vessels displace 40,500 tons.

This LHD project represents several milestones. The ship will be powered by two GE LM2500+ aeroderivative gas turbines, with GE main reduction gear- ing (two gearboxes). This marks the first military application of GE's

LM2500+ gas turbine.

Currently there are 20 LM2500+ in or slated for operation worldwide on vari- ous commercial fast ferries and cruise ships, with an additional 74 units in diverse power generation applications.

The LM2500+S each will have the

U.S. Navy rating of 35,000 shp for the

LHD application. GE expects to finalize the U.S. Navy certification for this rat- ing by the end of 2001.

The ship will also feature a unique hybrid electric drive system, with elec- tric motors providing propulsion power at low loitering speeds. The previous seven LHD ships, also designed and built by Ingalls, were powered by steam propulsion systems.

Six of the large ships, designed to carry some 2,000 Marines, have already been delivered to the U.S. Navy by

Ingalls, and are active in the Fleet.

LHD 7, recently christened Iwo Jima, is currently under construction and is scheduled for delivery in mid-2001.

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.