SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 14, 1997
HALTER MARINE GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-6967 75-2656828
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
13085 Industrial Seaway Road, Gulfport, Mississippi 39503
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (601)896-0029
(Not Applicable)
(Former name or former address, if changed since last report)
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On February 14, 1997, Halter Marine Group, Inc. ("Halter")
issued a press release announcing that, subject to certain
conditions in the stock purchase agreement including approval of
governmental regulatory agencies and the board of directors of
Halter, a wholly-owned subsidiary of Halter has entered into an
agreement to acquire fifty-one percent (51%) of the common stock of
Texas Drydock, Inc. for cash and that Halter has an option to
acquire, and the Texas Drydock, Inc. sellers have an option to
sell, the remaining common stock to Halter under certain
circumstances.
The press release is filed herewith as Exhibit 99(1) and is
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Finanancial Statements.
Not applicable.
(b) Exhibits.
99(1) Press release of Registrant dated February 14.
1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Halter Marine Group, Inc.
(Registrant)
By: /s/ John Dane, III
John Dane, III
Chairman, President and
Chief Executive Officer
Date: February 20, 1997
<PAGE>
EXHIBIT 99(1)
[LETTERHEAD AND LOGO OF HALTER MARINE GROUP, INC.]
NEWS RELEASE
Contact: Keith Voigts
Sr. Vice President
(601) - 897-4895
FOR IMMEDIATE RELEASE
Feb. 14, 1997
GULFPORT, Miss. - Halter Marine Group, Inc. (ASE:HLX) today
announced, subject to certain conditions in the stock purchase
agreement including the approval of governmental regulatory
agencies and the board of directors of Halter, that a wholly owned
subsidiary of Halter has entered into an agreement to acquire
fifty-one percent (51%) of the common stock of Texas Drydock, Inc.
for cash. Halter has an option to acquire, and the Texas Drydock,
Inc. sellers have an option to sell, the remaining common stock to
Halter under certain circumstances.
If closed in accordance with the terms and conditions of the
agreement, consummation of this transaction is anticipated to take
place within ninety (90) days. Terms of the acquisition were not
disclosed.
Texas Drydock, Inc. is a leading marine repair and
manufacturing company for offshore drilling and workover units. It
operates six ship yards located in southeast Texas. Its revenues
in the latest fiscal year ending Sept. 30, 1996 were approximately
$73 million.
Halter Chairman, President and Chief Executive Officer John
Dane III stated, "The acquisition of this interest in Texas
Drydock, Inc. would complement the business of Halter in marine
repair, and as the new construction market for offshore drilling
and petroleum related products increases, Texas Drydock would offer
an expanded range of products. Certain key management would remain
with Texas Drydock, including Tom Weller, chairman of the board,
who would serve as a consultant, and Don Covington, who wold remain
as its president."
Halter Marine Group, Inc., with headquarters in Gulfport,
Miss., manufactures and markets a broad range of small- to medium-
size ocean-going commercial, military and government vessels,
including offshore support vessels, offshore double hull tank
barges, patrol boats, landing craft, oceanographic research
vessels, tugboats and luxury yachts.
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