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Business/Financial

Bollinger Expands Ship Construction, Repair Capabilities With Gulf Island Acquisition

By Cal Biesecker

Monday, April 19th, 2021

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Bollinger Expands Ship Construction, Repair Capabilities With Gulf Island Acquisition

Bollinger's new Houma shipyard is under contract to supply Towing, Salvage and Rescue Ships to the Navy. Image: Gulf Island Fabrication

Shipbuilder Bollinger Shipyards on Monday said it has acquired Gulf Island Fabrication, Inc.’s [GIFI] shipyard division and facilities in a $26.4 million deal that expands its capacity and capabilities to serve its defense and commercial customers. Terms of the deal include an additional $2.2 million payment based on collection of certain customer payments related to the Gulf Island shipyard’s construction contracts. The new 437-acre Bollinger facility is 30 miles from the Gulf of Mexico on the Houma Navigation Canal in…

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