November 18, 2019

FOR IMMEDIATE RELEASE
Cavache

Ahtna Marine & Construction Company, LLC (AMCC), an Ahtna, Inc. company, has finalized acquisition of various dredges, support vessels, and equipment from Cavache, Inc. a Florida-based dredging and civil construction firm that has been in operation for over 15 years. In addition to the assets purchase, several employees of Cavache, Inc. will be joining AMCC.

“Acquiring Cavache’s assets enables us to jump start our Florida marine construction and dredging presence, which bolsters our strategic objective in expanding operations throughout the Southeast region of the country,” said Craig O’Rourke, AMCC president.

AMCC intends to specialize in hydraulic and mechanical dredging services in lakes, ports, rivers, canals, inlets and other navigable waterways as well as beach renourishment, shoreline protection, wetland construction and environmental clean-up and maintenance. In addition, the company plans to establish a HUBZone office in Florida and service the U.S. Army Corps of Engineers, the Florida Inland Navigation District, and the Naval Facilities Engineering Command (NAVFAC) Southeast contracting office.

“This assets acquisition is part of our overall investment strategy which is focused on enabling Ahtna to increase our service offerings, provide shareholder value and diversify our customer base. We will continue to explore other acquisition opportunities that meet our investment criteria,” said Tom Maloney, Ahtna Netiye’s chief operating officer.