The acquisition of Texas Shipyards remains pending, subject to financial, legal, and regulatory approvals, as well as land lease discussions with the Galveston Wharves board of trustees. Davie anticipates completing the transaction in the coming months, pending these conditions.
James Davies, president and CEO of Davie, stated: “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.”
Gulf Copper’s CEO, Steve Hale, added: “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.”
This acquisition aligns with Davie’s commitment, made in July 2024, to establish a long-term presence in the United States. The company already operates facilities in Québec, Canada, and Helsinki, Finland, with the latter responsible for constructing approximately half of the global icebreaker fleet.
Upon finalizing the deal and securing contracts, Davie plans to invest $1 billion to modernize and expand facilities in Galveston and Port Arthur, boosting local capacity for shipbuilding.
