Bollinger Shipyards agrees to buy VT Halter Marine

Bollinger Shipyards has agreed to buy VT Halter Marine in Pascagoula.

Halter Marine is the shipyard that won the contract to build a new class of Coast Guard icebreakers.

Under the deal, Bollinger agreed to pay $15 million for the shipyards — with an additional $10,25 million pending the award of future shipbuilding contracts and current contracts meeting projected profit margins.

Halter Marine has faced delays in the design process for the Polar security cutter and has yet to start production pending design approvals.

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