Heddle Shipyards Solidifies Future of the Thunder Bay Shipyard by Acquiring Fabmar Metals Inc.

THUNDER BAY, ON, Aug. 10, 2021 /CNW/ - Heddle Shipyards (Heddle) is proud to announce the acquisition of fabrication, machining, and marine repair specialist Fabmar Metals Inc. (Fabmar). For over 30 years, Fabmar has been a leading fabrication and marine repair specialist in Thunder Bay and will continue to operate under the Fabmar brand. Mr. Dale Ryynanen will remain President of the company.

Through this acquisition, Heddle will strengthen its existing position as the largest Canadian ship repair and construction company on the Great Lakes. In addition, the transition of Fabmar's personnel, equipment, and inventory to the Thunder Bay Shipyard will accelerate the reopening and revitalization of the historic facility. In the coming weeks, Fabmar will begin recruiting for a number of positions including, General Labourers, Carpenters, Millwrights, Machinists, Electricians, Crane Operators, Masons and a Human Resources/Health, Safety, Security and Environment Coordinator.

Quotes:
"I am proud of what Fabmar has accomplished for over 35 years. By joining Heddle Shipyards, Fabmar will now become part of the history and legacy of the Thunder Bay Shipyard. 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."
     -          Dale Ryynanen, President, Fabmar Metals Inc.

"I have a tremendous amount of respect for Fabmar and its President, Dale Ryynanen. Heddle and Fabmar are two complementary companies. Between now and the end of the year, we will focus on renovating the shipyard and transitioning Fabmar's personnel, equipment and inventory to the Thunder Bay Shipyard so that we can build a solid foundation for the future."
     -          Rick Heddle, Chief Operating Officer, Heddle Shipyards

"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. 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."
     -          Shaun Padulo, President, Heddle Shipyards

Background:
Heddle Shipyards is the largest Canadian ship repair and construction company on the Great Lakes. Heddle owns and operates three shipyards in Hamilton, Port Weller, and Thunder Bay, Ontario, and also has facilities and operations on the East Coast.  Heddle is strengthening Canada's marine economy by revitalizing ship repair, shipbuilding, and marine fabrication capacity in Canada. Heddle fixes and builds ships that are vital to the success of our nation so that Canada can realize the full potential of the Blue Economy Strategy.

SOURCE Heddle Shipyards

Ted Kirkpatrick, 905 380 8644, [email protected]