Gulf Island to acquire LEEVAC assets

摘要

Gulf Island fabrication, Inc. has executed an asset purchase agreement of $20 million with LEEVAC Shipyards, LLC and its related affiliates. Under the agreement LEEVAC will sell all of its assets, including its leasehold interest at its marine fabrication facilities in Jennings and Lake Charles, Louisiana to a Gulf Island subsidiary. The deal will also include all of LEEVAC's machinery and equipment. In addition, says Gulf Island, the transaction would provide approximately $112.0 million of incremental contract backlog.