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Saturday, Aug. 1, 1998
Business Briefs
Southwest Marine Inc. tells acquisition plans
Staff and wire reports
Southwest Marine Inc., which has a Naval ship repair facility in Ingleside, has signed a letter of intent to acquire Norfolk Shipbuilding & Drydock Corp, Southwest announced recently.
The acquisition will create the nation's largest non-nuclear ship repair facility.
Southwest Marine specializes in conversion, overhaul, modernization and maintenance of government and commercial ships.
It operates an 80-employee facility in Ingleside to work on vessels from Naval Station Ingleside, said Mike McHenry, general manager of the Ingleside facility.
The local site is on 17 acres in the Jewell Fulton Canal. Privately owned Southwest Marine has other facilities in the California cities of San Diego, San Pedro and San Francisco. The company employs about 2,000. Norfolk Shipbuilding & Drydock has 1,800 employees and facilities on the East Coast.
Number of oil, gas rigs rises nationally to 822
HOUSTON - The number of oil and gas rigs operating nationwide rose by six to 822 this week, Baker Hughes Inc. said Friday.
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