Lockport, Louisiana-based Bollinger Shipyards has completed its purchase of two U.S. marine subsidiaries of ST Engineering North America in a transaction that expands its shipbuilding and repair capabilities in support of government and commercial clients.
Bollinger said Monday it will bring into its portfolio the U.S. Coast Guard’s Polar Security Cutter, the U.S. Navy’s Auxiliary Personnel Lighter-Small program and other ongoing efforts at VT Halter Marine and ST Engineering Halter Marine Offshore and two dormant yards and two shipyards in Pascagoula, Mississippi.
The two shipyards were renamed Bollinger Mississippi Shipbuilding and Bollinger Mississippi Repair. The facilities are expected to enable Bollinger to strengthen its presence in the U.S. defense industrial base.
Ben Bordelon, president and CEO of Bollinger Shipyards, said the completion of the acquisition will enable the company to combine skilled workforces in Mississippi and Louisiana and provide an expanded set of platforms, capabilities and services to defense and commercial customers.
The deal was first announced on Nov. 7 and Singapore-based ST Engineering said then that it would receive $15 million in cash from the acquisition.