Shipbuilder Davie has announced plans to acquire Gulf Copper & Manufacturing’s shipbuilding assets located in Galveston and Port Arthur, Texas.

The planned acquisition is pending financial, legal, and regulatory approvals, including land lease negotiations with the Galveston Wharves Board of Trustees.

The acquisition, expected to be finalised by summer 2025, underscores Davie's commitment made in July 2024 to establish a permanent presence in the US.

The proposed acquisition aligns with national priorities, including the U.S. Maritime Action Plan and the Ships for America Act.

Furthermore, it supports the US Coast Guard's Arctic Security Cutter programme, which seeks to revitalise shipbuilding in the US and deliver Arctic-ready icebreakers.

Davie president and CEO James Davies said: “We share a vision with Gulf Copper to make Texas a world-class hub for American icebreaker and complex ship production. Texas is ready to lead a new Golden Age of American shipbuilding—backed by our commitment to delivering ships on time, on budget, and in service of national security priorities.”

With operations in Québec and Helsinki, Davie's expansion into the US would enhance its role in the trilateral Icebreaker Collaboration Effort (ICE Pact) and counter heavily subsidised foreign programmes.

The company's entry into the US market is also timely, as the country currently operates only three Arctic-ready icebreakers, compared to nearly 50 by rival nations.

Davie's commercially viable icebreaker designs promise faster delivery and cost savings for the US government, addressing a critical national security concern.

Upon completion of the acquisition and securing of contracts, Davie plans a $1bn investment to upgrade the Galveston and Port Arthur facilities, potentially creating around 4,000 American jobs. This includes 2,000 direct jobs at Gulf Copper and another 2,000 in the supply chain.

Davie is also collaborating with local stakeholders and organisations in Texas to expedite the transaction and has also garnered support from Washington, D.C.

Gulf Copper CEO Steve Hale said: “A successful deal will open a new chapter for Gulf Copper. For the first time in decades, complex shipbuilding could return to Galveston and Port Arthur—this time backed by one of the world’s fastest-growing specialised shipbuilders.

“Davie brings a bold vision: to make Texas the cornerstone of their US expansion. That means opportunity for our employees, our partners, and our communities.”

"Davie to acquire Gulf Copper’s Texas shipyards, expand US icebreaker fleet" was originally created and published by Ship Technology, a GlobalData owned brand.