Gulf and Hendry Marine Consolidate Operations, Creating Maritime Services Leader

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Gulf Marine Repair Corporation announced it is consolidating operations with Hendry Corporation to improve operations and position the company for additional growth.

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The intent of this consolidation is to create a focus, flexibility, and competitiveness that will meet both the needs of existing customers and the emerging markets.

Gulf Marine Repair Corporation, one of the southeast’s leading tug-barge shipyards, is pleased to announce it is consolidating operations with Hendry Corporation, its affiliated company and fellow shipyard, effective November 30, 2015. By combining the activities of these two shipyards, Gulf Marine will operate more efficiently and be better positioned for additional growth.

“Gulf Marine is known for its quality repairs,” said Rick Watts, the newly appointed President of Gulf Marine. “The intent of this consolidation is to create a focus, flexibility, and competitiveness that will meet both the needs of existing customers and the emerging markets.”

Hendry Corporation has a rich history in Port Tampa Bay. The original company was started by Captain F.M. Hendry in 1926 as Shell Producers Company, and in 1942, the name was changed to Hendry Corporation. “This 89-year-old company was founded by owner Aaron Hendry’s father. We value this history and want to continue Mr. Hendry’s long-lived success,” said Watts.

The transition will result in the combination of shipyard assets and work forces, creating a seamless service provider with a much broader customer offering and a much deeper talent pool. “We value all of our employees and want to keep them here,” said Watts. “Repairing tug/barge units and ships is not an easy job. Our employees take pride in what they do, and we take pride in our relationship with our employees.”

Under Aaron Hendry’s vision and leadership, the combined companies also recently created an Employee Stock Ownership Plan, which will allow all team members to participate in the success of the newly combined company. This innovative plan is one of the first in the ship repair industry and is designed to reflect the company’s commitment to engaging and maintaining a world class ship repair work force. “Employees now have the added incentive to remain with our company because each employee will benefit from his/her ownership interest in the company,” said Watts.

Gulf Marine’s facility provides vessel owners with a one-stop shop for quality, efficient, and innovative ship repair. In addition to ship repair services, the shipyard offers maritime remediation and gas-freeing services through its affiliate, Universal Environmental Solutions, allowing vessels to conveniently undergo all services at one location.

About Gulf Marine:
Gulf Marine, along with its affiliated companies, offers a range of maritime services, including commercial and government ship repair, drydock construction, steel fabrication, stevedoring and marine terminal operations, marine environmental services, and maritime employee staffing.

1800 Grant Street | Tampa Florida 33605 | P: 813-247-3153 | F: 813-319-3567 |

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Darren Richards
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