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PEOPLE & COMPANY NEWS mon stock will be outstanding. The company will pay cash in lieu of fractional shares based on the last sale price of its common stock on the record date (as adjusted for the stock dividend). In announcing the dividend, John Dane III, Halter's chair- man, president and CEO, noted, "Since the company's initial public offering on Sept. 26, 1996, our common stock price has increased over 300 percent from $11 per share to over $45 per share as of Sept. 26, 1997." He added, "The board of directors took this action to broaden the company's owner- ship base and increase the number of shares available for trading." Outboard Marine Merger Complete Greenmarine Holdings LLC announced that its wholly-owned subsidiary, Greenmarine Acquisition Corp. has merged with Outboard Marine Corp. (OMC). As the surviving corporation in the merger, it will continue to operate under the same name. The merg- er was effected in accordance with the "short-form merger" provisions of Section 253 of the General Corp. Law of the State of Delaware. As a result of the merger, Greenmarine Holdings is now the sole stockhold- er of OMC. In the merger, each outstanding share of common stock of OMC not owned by Greenmarine Acquisition Corp. or former stockholders who intend to exercise dissenter's rights under the General Corp. Law of the State of Delaware, was converted into the right to receive $18 in cash. A notice of the effectiveness of the merger has been mailed to former stockholders of OMC with instruc- tions to receive cash payment for their shares. Blue Star Line Moves Melbourne Star Blue Star Line (BSL) is moving 1,308-TEU Melbourne Star to its East and Gulf Coast Container Service in an attempt to improve frequency and transit times between North America, Australia j and New Zealand. BSL ordered the vessel transfer! to ensure schedule integrity in thel face of delays experienced on the U.S. domestic rail links and through on-going maintenance authorized for this purpose. "This share repurchase program reflects our confidence in the com- pany's future performance," said Bill Fricks, chairman and CEO. "Strength in our core Navy busi- ness, and the associated favorable trends we are experiencing in cash flow support implementing the program at this time. We look for- ward to initiating similar pro- grams as opportunities arise." Halter Marine Group Declares Stock Split Halter Marine Group, Inc. announced a three-for-two com- mon stock split in the form of a stock dividend to stockholders of record as of Oct. 15, 1997. Additional stock certificates are expected to be mailed on Oct. 31, 1997. Following the stock split, approx- imately 27,675,000 shares of com- Circle 328 on Reader Service Card In heavy weather, fierce wind and fast water, its good to know you've got ZF behind you, delivering ultimate power and control at all times, in all conditions. Across the seven seas, whatever the workboat, where livelihoods and lives, are on the line, the professional chooses ZF transmissions. Superior ZF engineering delivers proven reliability, plus low maintenance and long service life. ZF Marine transmissions are backed by worldwide sales and service. Transmissions you can trust For further information please contact: ZF Industries Inc., Marketing Support Dept., Ill Hickory Hill Drive, Vernon Hills, IL 60061-3182 Tel: 847 634 3500 Fax: 847 634 0736 LJMARINE Transmission muscle. Room Pumps PUMP AND PUMPING EXPERTISE SINCE 1860 Special Thanks to Avondale/ Arco for choosing Allweiler Marine as their supplier of Cargo and Engine ALLWEILER ONE SUPPLIER, ONE CONTACT, ONE SUPPORT World Leader in the design and supply of complete liquid mud and cargo handling systems ALLWEILER Marine, Inc. 12600 SE 38th Street, Suite 230 Bellevue, WA 98006-5232, USA Tel.: 425-643-0377 Fax: 425-643-0456 Toll Free: 888-583-8801 The Agitator Oil Based Liquid Mud Agitation and Circulation Systems. Circle 318 on Reader Service Card
