Bollinger Shipyards is acquiring VT Halter and ST Engineering Halter Marine Offshore (STEHMO) as the shipbuilder expands its footprint through the US Gulf.
The Louisiana yard announced on Monday that it had signed an agreement to acquire the two companies, both based in nearby Mississippi, for an undisclosed amount in a deal set to close before the New Year. The seller is ST Engineering North America, a unit of Singapore’s ST Engineering.
“For over 75 years, my family has been dedicated to providing our government and commercial customers with the highest levels of quality, support and service in the US shipbuilding industry,” said Bollinger chief executive Ben Bordelon.
“From day one, the Bollinger team will leverage our proven and best-in-class management team, operational excellence and existing capability to ongoing commercial and government programs, especially the Polar Security Cutter programme.”
VT Halter was awarded the US government contract to design and build up to three Polar Security Cutters in 2019, with the first ship for delivery in 2024. The contract has a value nearing $2bn if all options are exercised.
VT Halter was also contracted to construct auxiliary personnel lighter-smalls, also known as berthing barges, for the US Navy.
On the commercial side, the yard constructed an LNG articulated tug barge for Q-LNG Transport and has built offshore vessels, ferries and container vessels, while STEHMO has repaired and upgraded ships and rigs, in addition to new construction.
The acquisition adds to Bollinger's defence project backlog that includes Coast Guard cutters and unmanned vessels for the US Navy, plus a dry dock and pontoon launcher to support Navy submarine construction at General Dynamics.
Bollinger has also constructed tugs, barges and offshore vessels.
