Gulf Island Fabrication

Gulf Island Fabrication
Nasdaq: GIFI
S&P 600 Component
Revenue303,308,000 United States dollar (2019) Edit this on Wikidata
Number of employees
944 (2019) Edit this on Wikidata

Gulf Island Fabrication is an American manufacturer of specialized structures and marine vessels used in the energy sector. The company builds offshore oil and gas platforms, ships and also foundations for offshore wind turbines.[1] It also provides maintenance and marine repair services in-shop and out in the field. The company has built some of the largest offshore platforms in the world.[1]

The company's headquarters are located in Houston, Texas, and its seven building yards are in Louisiana and Texas. Gulf Island Fabrication and Bechtel are partners.[2] The company was founded by Alden “Doc” Laborde, a World War II Navy commander who later worked the offshore oil and gas industry. In 1985, the company took over a bankrupt rival named Delta Fabrication. The company became publicly listed in 1997. The company offered 2,000,000 shares at $15 per share. With a total offer amount of $30 million.[3] The company had diversified revenue to build ships and expanded by taking over LeeVac Shipyards in the beginning of 2016.[4] The acquisition provided about $112 million incremental contract backlog during the industry downturn.[5]

  1. ^ a b "Louisiana builder is hard at work on R.I.'s offshore wind turbines + Video".
  2. ^ "Gulf Island Fabrication teams up with Bechtel". 25 July 2014.
  3. ^ http://ipo.findthecompany.com/l/720/Gulf-Island-Fabrication-Inc [dead link]
  4. ^ "Covington's LeeVac Shipyards sells assets to Gulf Island Fabrication for $20 million".
  5. ^ "Gulf Island Fabrication Subsidiary Will Acquire LEEVAC Shipyard Assets | Hart Energy".