Marinette Marine acquired by Bay Shipbuilding's parent.(Manitowoc Company Inc.)(Brief Article)

Workboat | December 1, 2000| | Copyright

In recent years, most second-tier shipyard industry consolidation has taken place in the Gulf of Mexico market. But in October, it was the Great Lakes turn with Manitowoc Co. Inc.'s announcement that it would purchase Marinette (Wis.) Marine Corp. for $48 million. The all-cash transaction was expected to close by late November.

For Manitowoc, the purchase of privately held Marinette Marine made strategic sense. Marinette Marine is located just across Green Bay from Manitowoc's Bay Shipbuilding Co. facility in Sturgeon Bay, Wis., which will permit the sharing of ...

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