Gulf Island Fabrication, Inc. (NASDAQ:GIFI) Files An 8-K Other EventsItem 8.01
Other Information
Gulf Island Fabrication, Inc. (“the Company”) has received a letter of termination from a customer within its Shipyard Division related to the construction of two multi-purpose service vessels (“MPSV's”). These are the same MPSV's the Company referenced in its annual report on Form 10-K for the year ended December 31, 2017, as filed with the Securities and Exchange Commission on March 9, 2018.The Company disputes the purported termination and disagrees with the customer’s reasons for same.The Company will continue to enforce its rights under the agreements and defend any claims asserted against the Company by its customer.
About Gulf Island Fabrication, Inc. (NASDAQ:GIFI)
Gulf Island Fabrication, Inc. (Gulf Island) is a holding company. The Company, along with its subsidiaries, is a fabricator of steel platforms and other specialized structures for customers in the offshore oil and gas industry. It also performs onshore and offshore construction and fabrication services for customers in the marine industry. Its primary activity is the fabrication of offshore drilling and production platforms and other steel structures for customers in the oil and gas and marine industries, including jackets and deck sections of fixed production platforms, hull, tendon, and/or deck sections of floating production platforms, piles, wellhead protectors. It conducts its operations through its subsidiaries, which include Gulf Island, L.L.C.; Gulf Marine Fabricators, L.P.; Gulf Island Marine Fabricators, L.L.C.; Gulf Island Shipyards, L.L.C.; Dolphin Services, L.L.C.; and Dolphin Steel Sales, L.L.C.
