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Canadian shipbuilder Davie has set out to acquire shipbuilding assets in Galveston and Port Arthur from Gulf Copper & Manufacturing Corporation, a Texas-based company specialising in ship repair, construction, and marine services.
The transaction for Texas Shipyards is still subject to financial, legal, and regulatory closing conditions, as well as land lease negotiations with the Galveston Wharves board of trustees. Once complete, Davie expects to finalise the acquisition in the coming months.
James Davies, president and CEO of Davie, said: “We share a vision with Gulf Copper to make Texas a world-class hub for American icebreaker and complex ship production. Texas is ready to lead a new golden age of American shipbuilding—backed by our commitment to delivering ships on time, on budget, and in service of national security priorities.”
“A successful deal will open a new chapter for Gulf Copper,” said CEO Steve Hale. “For the first time in decades, complex shipbuilding could return to Galveston and Port Arthur—this time backed by one of the world’s fastest-growing specialised shipbuilders. Davie brings a bold vision: to make Texas the cornerstone of their US expansion. That means opportunity for our employees, our partners, and our communities.”
The planned acquisition would fulfill the commitment Davie made in July 2024 to explore a permanent presence in the US.
Davie already has operations in Québec, and Helsinki—the latter has built around 50% of the world’s icebreaker fleet.
Once the transaction is complete and contracts are secured, Davie plans to invest $1bn to upgrade and expand capacity in Galveston and Port Arthur.
The post Davie moves to buy Texas Shipyards appeared first on Energy News Beat.
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