Austal Limited has completed an agreement to purchaseadditional waterside land, buildings, and an existing dry dock along the Mobile River previously owned by World Marine of Alabama.
The purchase enhances the company’s new construction and service business lines.
The purchase includes the 20,000 ton ‘Pete B’ Panamax-class floating dry dock, 100,000 square feet of covered repair facilitiesand 15 acres of waterfront property along the Mobile River and Gulf of Mexico.
A small proportion of this waterfront propertyis leasedto Austal. The acquisition expandsAustal’s new construction andservice strategy by securing launch and deep water berthing capability to support future new construction efforts,including steel shipsand anincreased service and repair capacity.
The acquisition price is under US$10 million and will be funded from cash holdings.
Austal USA is the one of the largest shipbuildersin the US. The company’s manufacturing facility and headquarters is located on 164 acres of land on the Mobile River.
MARRS is located across the river and will increase the ability of Austal USA to expand its aluminium, steel and repair operations.