Assets of Signal International acquired by World Marine

Signal International and its subsidiaries are being sold to World Marine as part of Signal's Chapter 11 plan of liquidation.

An order confirming the plan was previously entered by the United States Bankruptcy Court for the District of Delaware in November, Signal said in a press release. The company voluntary filed under Chapter 11 in July.

World Marine LLC and its subsidiaries are newly formed Alabama limited liability companies. The press release said that with its acquisition of the Signal assets, World Marine is seeking to become a leader in the business of offshore drilling rig and ship overhaul, repair, upgrade, and conversion, as well as new shipbuilding.

Details: worldmarine.com.

This story was originally published December 15, 2015 at 3:29 PM with the headline "Assets of Signal International acquired by World Marine ."