Canada's Davie Makes $1 Billion Deal for Texas Shipyard Gulf Copper
Canadian shipbuilder Chantier Davie Canada Inc. is planning to invest more than $1 billion to buy and upgrade Galveston, Texas-based Gulf Copper & Manufacturing Corp. as part of its strategy to supply the US with icebreakers and other specialized ships.
Davie expects the acquisition to be finalized this summer. The deal between the two closely held companies is subject to financial, legal and regulatory conditions as well as land lease negotiations, Davie spokesperson Paul Barrett said.
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