THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, June 17, 1995 TAG: 9506170419
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
Two maritime companies have received a 107-day grace period to line up public funds to start commercial shipbuilding ventures at soon-to-be-closed Philadelphia Naval Shipyard. The original deadline was Thursday for Meyer Werft of Papenburg, Germany, and Metro Machine Inc. of Norfolk. They now have until Sept. 30. Major issues remain unresolved, including a disagreement over the size of the Philadelphia's contribution to the conversion. Metro Machine would use part of the yard to build bow and stern sections of its double-hull tankers. (AP) by CNB