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AVONDALE INDUSTRIES AND DICKSON GMP INTERNATIONAL SIGN LETTER OF UNDERSTANDING

 AVONDALE INDUSTRIES AND DICKSON GMP INTERNATIONAL
 SIGN LETTER OF UNDERSTANDING
 NEW ORLEANS, Oct. 7 /PRNewswire/ -- Dickson GMP International, Inc. and Avondale Industries, Inc. (NASDAQ: AVDL) announced today that they have signed a Letter of Understanding pertaining to the development of a joint venture between the parties.
 The venture's objective is to secure international oil and gas/marine construction contracts.
 Paul Gariepy, executive vice president of Dickson, stated, "This strategic initiative will benefit both companies by utilizing Louisiana- based resources to expand each company's international market penetration."
 Thomas M. Kitchen, vice president and CFO of Avondale Industries, Inc., commented: "Avondale and Dickson are committed to expanding our businesses worldwide. Dickson provided us with the opportunity to move quickly into several developing markets. We are looking forward to a prosperous relationship."
 Dickson is a privately owned company and one of 12 affiliated companies under the GMP International Group umbrella. It is a full- service engineering-procurement-construction company serving the chemical, petrochemical, industrial, refinery and oil and gas industries. Corporate offices are located in New Orleans and Houston.
 Avondale Industries, Inc., headquartered in metro New Orleans, is one of the nation's leading marine fabricators. In addition to its shipbuilding operations, the company specializes in boat construction and is a major repair contractor for commercial and Navy ships. It is also involved in the modular construction of plants and components for a variety of land-based industries.
 -0- 10/7/92 R
 /CONTACT: Thomas M. Kitchen of Avondale Industries, 504-436-5237/
 (AVDL) CO: Avondale Industries, Inc.; Dickson GMP International, Inc. ST: Louisiana IN: OIL SU: JVN


BR-BN -- AT008 -- 7634 10/07/92 17:49 EDT
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Publication:PR Newswire
Date:Oct 7, 1992
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