Gulf Island sells excess property in Houma

Gulf Island Fabrication facilities in Houma. Photo by Don Kadair

Gulf Island Fabrication, a steel fabricator and service provider to the industrial and energy sectors, announced last week that it has completed the sale of excess property that was part of the company’s facilities located in Houma, reports Marine Link.

Gulf Island said the sale to an undisclosed buyer generated net cash proceeds of approximately $8.5 million.

“A key aspect of our strategic transformation has been to improve our resource and facility utilization and the sale of this property at our Houma facility is consistent with this objective,” says Richard Heo, Gulf Island’s president and CEO. Read more.