Canada’s Davie Shipbuilding, today announced its intention to acquire shipbuilding assets in Galveston and Port Arthur, Texas, from Gulf Copper & Manufacturing Corporation. The transaction is still subject to financial, legal, and regulatory closing conditions, as well as land lease negotiations with the Galveston Wharves Board of Trustees, but, when these complete, Davie expects to finalize the acquisition in summer 2025.
Once the transaction is complete and contracts are secured, Davie plans to invest $1 billion to upgrade and expand capacity in Galveston and Port Arthur. It says the project could generate approximately 4,000 American jobs—around 2,000 directly at Gulf Copper and 2,000 more throughout the supply chain.
To ensure the rapid closure of the transaction, Davie is working closely with organizations and stakeholders in Galveston and Port Arthur, as well as the State of Texas. The deal has also received strong support in Washington, D.C.
James Davies, president and CEO of Davie, said: “We share a vision with Gulf Copper to make Texas a world-class hub for American icebreaker and complex ship production,” said president and CEO James Davies. “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.”
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