Signal buys Bender

Two Mobile-based shipyards are joining forces thanks to help from the Retirement Systems of Alabama (RSA), USA. Bender Shipbuilding & Repair Inc. was recently purchased at a bankruptcy auction by Mobile’s Signal International Inc. in a $31.2 million deal and will be known as Signal Ship Repair.

“With RSA as a major investor, we were able to make this purchase and now will be active in both the shipbuilding and off shore drilling industries. This is great news for our company, our clients, RSA and the entire Mobile area,” said Dick Marler, Signal’s president and chief executive officer. “We will be investing $5 million in capital improvements initially and hope to have between 400 and 500 employees in the next 18 months.”

Bender sought Chapter 11 bankruptcy protection in July 2009. Bender’s Mobile facility has 3,300 feet of deepwater frontage and has six repair/construction yards, three steel floating dry docks, and other equipment on 26 acres.

In 2008, Retirement Systems of Alabama purchased $100 million worth of shares in Signal. The company recently relocated its headquarters from Pascagoula, Miss., to Mobile’s RSA Battle House Tower.

Signal International, LLC is a leading Gulf of Mexico provider of marine and fabrication services. Signal’s achievements include new construction of mobile offshore drilling and production units (MODUs and MOPUs), numerous upgrades, conversions, overhauls repairs, and surveys, and dry docking of large and small vessels.