Houston-based Gulf Island Fabrication has announced that a strategic review conducted to look for alternative strategies for the company has been completed and has not resulted in a viable proposal.
The company had set up a committee and engaged the assistance of its financial advisor, Johnson Rice & Company, to objectively evaluate alternative strategies for the company, including a possible merger or sale.
“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,” the company said in a statement.
