Tidewater Signs Construction Contract; Bollinger Resigns From Board.Business Editors NEW ORLEANS--(BUSINESS WIRE)--May 8, 2002 Tidewater Inc. (NYSE NYSE See: New York Stock Exchange :TDW TDW Total Diamond Weight TDW Telecommunications Data Warehouse TDW Tower Display Workstation (FAA) TDW Tonnage Dead Weight TDW Training Development Workload TDW Time/Data Word TDW Turbo Debugger for Windows ) announced today that it has entered into a $45 million construction contract with Bollinger Shipyards Lockport LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control for the construction of four (4) offshore supply vessels. The high performance, high capacity 207-foot platform supply vessels will be delivered during the period beginning in October 2003 and ending in May 2004. Prior to entering into the contract, Donald T. "Boysie" Bollinger, chairman and C.E.O. of Bollinger Shipyards, Inc., resigned from his position as a director of Tidewater. Dean Taylor Dean Taylor is a name shared by the following individuals:
The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. policy and in the best interest of all parties. His long time counsel and advice, as well as his great industry experience, will be missed." Boysie Bollinger, chairman and C.E.O. of Bollinger, commented, "I am very pleased that Tidewater has shown the confidence in our design and capabilities to include us in this major newbuild program. The Tidewater-Bollinger relationship dates back to Tidewater's very formation, and we are pleased to continue that by delivering this new generation of vessels, which will carry them into the future. My resignation as a member of Tidewater's Board of Directors is not without regrets; it has been a wonderful experience, however, it was the appropriate step to take. I will miss my involvement with this group and wish them continued great success in the future." Bollinger Shipyards, Inc., is a leading provider of offshore oil field support vessels, tugs, rigs, liftboats, barges and fast patrol boats and other steel and aluminum products from its three new construction shipyards. Bollinger has 14 shipyards and all are strategically located between New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded and Houston with direct access to the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. and Intracoastal Waterway. Bollinger is the largest vessel repair company in the Gulf of Mexico region with a total of 42 dry-docks in Louisiana and Texas. Tidewater Inc. owns and operates over 550 vessels, the world's largest fleet of vessels serving the global offshore energy industry |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion