Gulf Island Fabrication completes strategic review, to remain independent
Gulf Island Fabrication announced the completion of its previously announced review of alternative strategies that began in early May 2019 and was led by a special committee of the board with assistance from the board's financial advisor, Johnson Rice & Company. The review was designed to objectively evaluate alternative strategies for the company, including possible merger or sale transactions, among other things. The review has not resulted in a viable proposal. After careful consideration, the board determined that the interests of the company's shareholders are best served if the company remains independent and the board focuses on executing the company's existing business plan, which includes enhancing the company's resources, processes and procedures to improve competitiveness and overall project execution and consideration of organic and inorganic opportunities for growth.