Austal USA buys World Marine of Alabama assets

Austal USA said today it has completed the purchase of waterfront land, buildings and a dry dock that were owned by World Marine of Alabama.

The property and facilities, which are along the Mobile River, bolster "the company's new construction and service business lines," Austal said.

World Marine of Alabama is an indirect subsidiary of Modern American Recycling and Repair Services of Alabama.

"The purchase includes the 20,000-ton 'Pete B' Panamax-class floating dry dock, 100,000 square feet of covered repair facilities, and 15 acres of waterfront property along the Mobile River and Gulf of Mexico," Austal said. "The acquisition further increases Austal USA's growing steel and aluminum business portfolio that includes U.S. Navy multi-ship contracts for the Independence-variant Littoral Combat Ship (LCS) and the Expeditionary Fast Transport (EPF), research and development on unmanned and autonomous surface vessels, and an expanding global services business in San Diego and Singapore."