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Gulf Island buys Leevac Shipyards in $20 million deal
Leevac Shipyards Houma facility. Image courtesy Leevac Shipyards, LLC.

Gulf Island buys Leevac Shipyards in $20 million deal

HOUMA, La.  — A Texas company has agreed to buy the assets of a Leevac Shipyards for $20 million, with the deal expected to close early in the coming year.

The Courier reports the deal gives Gulf Island Fabrications, a Houston-based company with offices in Houma, subsidiaries across south Louisiana, including the shipyards in Houma and marine fabrication facilities in Jennings and Lake Charles.

In addition, the transaction would provide approximately $112 million of incremental contract backlog.

Gulf Island moved its headquarters from Houma to Houston last year though it has about 2,200 employees in Terrebonne Parish who build topsides, shallow water jackets and boats, besides doing other fabrication work. Four of its six subsidiaries — Gulf Island, Gulf Island Marine Fabricators, Dolphin Services and Dolphin Steel Sales — are in Houma.

In related news, tanker tows disabled boat 300 miles through Gulf of Mexico.

Information from: The Courier, http://www.houmatoday.com

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.