Bollinger Shipyards LLC, Lockport, La., announced several personnel changes yesterday following the acquisition of VT Halter Marine Inc. and ST Engineering Halter Marine Offshore (STEHMO) earlier this month.
The newly acquired yards have been renamed Bollinger Mississippi Shipbuilding (BMS) and Bollinger Mississippi Repair (BMR).
Chris Remont has been named executive vice president and general manager of BMS. Remont will oversee the facility’s ongoing and future programs and is responsible for execution and delivery. He was previously EVP for new construction programs at Bollinger.
Bob Merchant has been named vice president of operational strategy and integration. Merchant will be responsible for the strategic overview of companywide functional business units. Specifically, he will review performance, synergies and operations plans to ensure support of Bollinger’s optimal strategy and best enable future growth and success. Merchant was previously president and CEO of VT Halter Marine. He spent most of his career at Ingalls Shipbuilding.
Tim Martinez will remain the executive vice president of repair for Bollinger and also will oversee BMR.
Geoffrey Green is the new executive vice president of government and external affairs, where he will oversee all state and federal government relations, community relations, communications and marketing activities. Green previously served as vice president for government affairs for Bollinger.
Mark Matta has been named director of program management for Bollinger Lockport New Construction and Bollinger Marine Fabricators. Matta will be responsible for program execution of the Coast Guard fast response cutter (FRC), Navy mine countermeasures unmanned surface vessel (MCM USV) program, as well as multiple projects in support of the Navy Columbia-class submarine program.
Jeffrey Gehrmann has been named the general manager of BMR.
Bollinger purchased the companies from ST Engineering North America, a technology, defense and engineering group, for an estimated $15 million.
In addition, ST Engineering Ltd. may receive earnout payments post-closing of up to $10.25 million, subject to the award of certain future shipbuilding contracts to Halter Marine and such contracts meeting the requisite operating profit margins.
ST Engineering conducted a thorough review of these two U.S. marine businesses. The two business units have incurred a combined net loss before taxes of $256 million in the last five years (2017-2021), with an annual net loss before taxes that ranged from about $40 million $60 million.
