(TAMPA, Fla.) — Gulf Marine Repair Corp., one of the Southeast’s leading tug-barge shipyards, has announced it is consolidating operations with Hendry Corp., its affiliated company and fellow shipyard, effective Nov. 30. 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 Corp. has a rich history in Port Tampa Bay. The original company was started by Capt. F.M. Hendry in 1926 as Shell Producers Co., and in 1942 the name was changed to Hendry Corp. “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 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.