With an eye on building icebreakers in US, Davie plans to acquire Gulf Copper

Canada’s Davie, a builder of ice-class and specialised vessels, has revealed plans to acquire the shipyard assets of Gulf Copper & Manufacturing Corp, a Texas-based ship repairer and fabricator. The long-rumoured acquisition, which must clear several approvals, could be completed as soon as this summer.

With facilities in Galveston and Port Arthur, Gulf Copper & Manufacturing would become part of the Inocea Group, joining Davie and Finland’s Helsinki Shipyard, which has built about half of the world’s icebreaker fleet.

In March, Davie was awarded a contract by the Canadian Government to construct a polar class icebreaker that would be built at Chantier Davie in Lévis, Quebec. The agreement, valued at C$3.25Bn, will see Davie deliver a production-ready heavy icebreaker design called the Polar Max to Canada by 2030. Helsinki Shipyard will support the project.

“Today we announced our group’s planned acquisition of Gulf Copper’s shipyards in Texas, where we will advance our strategy to help rebuild America’s domestic shipbuilding capabilities - with a clear focus on delivering the icebreakers and other high-complexity vessels critical to US national security,” said Inocea Group chairman and chief executive, Alex Vicefield.
Added Mr Vicefield, “Through this acquisition, Inocea will have shipbuilding facilities in each ICE Pact nation - Canada, Finland, and the United States - enabling icebreakers to be built domestically in each country, while fostering deep collaboration and knowledge transfer across borders. Because sharing is what friends do.”
Mr Vicefield said in a social media post, “At Inocea, we have a proven track record of transforming shipyards into world-class shipbuilders. We will bring that same approach to Texas - transforming Gulf Copper’s strategically located site through a planned $1 billion investment program.”
Gulf Copper chief executive Steve Hale, added, “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.”

The investment by the Inocea Group would back President Trump’s effort to revitalise the US shipbuilding industrial base, support the US Maritime Action Plan and the bipartisan Ships for America Act. Additionally, it would also align with the US Coast Guard Arctic Security Cutter (ASC) program, which aims to rapidly deliver new Arctic-ready icebreakers.