Heddle Shipyards acquiring marine repair specialist Fabmar Metals
The deal helps to secure decades' worth of fabrication work for Thunder Bay, Ontario.
Heddle Shipyards, said to be the largest Canadian ship repair and construction company on the Great Lakes, has acquired fabrication, machining, and marine repair specialist Fabmar Metals Inc.
The financial terms of the deal have not been disclosed.
Headquartered in Thunder Bay, Ont., Fabmar will continue to operate under the Fabmar brand, and Dale Ryynanen will remain president of the company.
“By joining Heddle Shipyards, Fabmar will now become part of the history and legacy of the Thunder Bay Shipyard,” Ryynanen said. “I am excited to be a part of the revitalization of the facility and to lead the team that will bring shipbuilding back to Northern Ontario.”
“I am excited that the deal has been finalized because we can now focus on executing a number of projects before the end of the year,” Heddle president Shaun Padulo said. “We plan on dry docking the MV Chi-Cheemaun for the Owen Sound Transportation Company, docking multiple tugs for a local operator, and preparing the fabrication hall to support work on the National Shipbuilding Strategy from Seaspan Shipyards. Our strategy was to secure decades’ worth of fabrication work for Thunder Bay, and the acquisition of Fabmar brings us one step closer to realizing our goal.”
In the next few weeks, Fabmar will begin recruiting for a number of positions including, general labourers, carpenters, millwrights, machinists, electricians, crane operators, and masons.
Heddle owns and operates three shipyards in Ontario: in Hamilton, Port Weller, and Thunder Bay. It also has facilities and operations on the East Coast.