$20 Million Sale Of Leevac Shipyards Announced

Gulf Island Fabricators of Houston has agreed to a $20 million price tag to acquire the assets of Leevac Shipyards. Gulf Island has facilities in Houma, Jennings and Lake Charles. Gulf Island moved it's company headquarters to Houston last year but has a workforce of 2,200 employees in Terrebonne Parish. Gulf Island builds topsides, boats and shallow water jackets. Four of six Gulf Island subsidiaries; Gulf Island, Gulf Island Marine, Fabricators, Dolphin Services and Dolphin Steel Sales are all in Houma.

The sale of Leevac provides approximately $112 million of incremental contract backlog.