Shipyards tug on revamped strategy

TAMPA — Gulf Marine Repair Corp., one of the leading tug-barge shipyards in the Southeast, is combining operations with Hendry Corp., its affiliated company and a fellow shipyard.

The consolidation will bring “a focus, flexibility and competitiveness that will meet both the needs of existing customers and the emerging markets,” Gulf Marine president Rick Watts says in a statement.

The transition of the two shipyards at Port Tampa Bay will result in the combination of assets and work forces, the statement adds. Additionally, Aaron Hendry, president of Hendry Corp., helped create an employee stock ownership plan for all employees.