World Marine has completed a transaction divesting its Pascagoula, USA shipyard. World Marine purchased the assets of Signal International in December of 2015, including shipyards in Pascagoula, Mississippi and Mobile, Alabama.
World Marine’s Pascagoula shipyard historically focused on offshore rig repair and conversions. With the sustained reduction in rig repair work resulting from the downturn in the offshore oil exploration market, World Marine made the strategic decision to sell the Pascagoula facility. World Marine said the divestiture would allow it to focus exclusively on activities in its Mobile, Alabama facility.