Copyright 2001 Journal of Commerce, Inc.  
Journal of Commerce - JoC Online
May 23, 2001
SECTION: OCEAN TRANSPORTATION and PORTS/INTERMODAL; Pg.WP

LENGTH: 174 words

HEADLINE: APL acquires American Automar

BYLINE: BY CHRIS DUPIN - JOC ONLINE

BODY:
APL will acquire American Automar, a Bethesda, Md., based shipowner that provides U.S.-flag sealift services to the U.S. Department of Defense for $50 million in cash.American Automar will continue to operate as a separate company, and will sell a division that receives funds under the Maritime Security Program because APL is a Singapore-based company.

Automar Chief Executive Bill Charrier said the companies were particularly excited about opportunities to provide logistics services to the military.

"The link-up with APL and APL Logistics provides the right complement of skills, services and technology that we believe DoD will find compelling as it attempts to execute its own strategic transformation in a budget-constrained environment," he said.

Automar operates vessels that are chartered to the U.S. Navy. One is the only semi-submersible heavy-lift ship under the U.S. flag. The company also recently completed a vessel-conversion program for the U.S. Marine Corps and now operates it under long-term contract.

LOAD-DATE: May 24, 2001