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L-3 Closes on Nautronix L-3 Communications Holdings Inc. has completed its purchase of Nautronix Defense Group, the mine and anti-subma- rine weapons systems maker, for $65m in cash plus a possible $6m more, depending on financial performance. Nautronix will be renamed L-3 Com- munications Nautronix Holdings Inc., and will add about $25m to L-3's estimated sales this year. ACL Announces Appointments American Commercial Lines Inc. (ACL) has appointed Joseph J. Rella as its vice president, sales for Jeffboat LLC, a subsidiary of ACL. Rella brings many years of marine industry knowledge in the area of sales, business development, manufacturing and engineering skills to the company. His most recent position was Director LNG Business Development for Crowley Marine in Houston. Previously, Rella spent over six years with Atlantic Marine, Inc. in various sales and marketing posi- tions. Rella graduated from the U.S. Merchant Marine Academy, Kings Point, New York and graduated with honors from the U.S. Navy Nuclear Power School. In addition, Shayne K. Ingersoll has been promoted to the position of Vice President, Human Resources. Ms. Inger- soll joined ACL in May, 2005 as Director, Human Resources and has more than 15 years of related Human Resources experi- ence with Chase Manhattan Bank, Bank of America and Continental Tire. In her various assignments, she has had respon- sibility for compensation and benefits, pension and welfare plans and employee relations. Caucus: The Navy Needs More Money On June 21, 2006, the Congressional Shipbuilding Caucus sent a letter signed by 69 Members of Congress to Secretary of Defense Donald H. Rumsfeld request- ing a top line increase to the Navy's Fiscal Year '08 ship procurement budget. The top line increase is urged to enable Navy leadership to meet its ship procure- ment budget requirements of $14.1b announced by Chief of Naval Operations Michael C. Mullen as the amount needed to rebuild the nation's sea power fleet. The letter sponsored by Jo Ann Davis (R-VA) and Gene Taylor (D-MS), co- chairs of the Congressional Shipbuilding Caucus, cites the 51% overall increase in defense spending since 2001 while ship- building has been cut by 16.8% over the same period. The Navy's ship procure- ment account has been the "bill payer" for other defense programs resulting in the contraction of the nation's naval fleet from 341 ships in 2001 to just 280 ships today. American Shipbuilding Association Presi- dent, Cynthia L. Brown, commended the action taken by the Congressional Ship- building Caucus. "The Caucus is taking the steps necessary to address the serious homeland and national security deficiency as the fleet shrinks to historic lows. Small shipbuilding budgets and low rates of pro- duction not only leave America's security interests vulnerable, but also place the defense industrial base at risk," said Brown. July, 2006 • MarineNews 13 News Circle 202 on Reader Service Card JULY MN2006 2(9-16).qxd 7/6/2006 11:23 AM Page 13
