November 16, 2006
Conrad to build LNG terminal/escort tugs
Conrad Industries, Inc. (OTC Pink Sheets: CNRD) has signed contracts for construction of two 98 ft Z-Tech 7500 Class Terminal/Escort Tugs with Bay-Houston Towing Co. and Suderman & Young Towing Company, L.P.
The ABS classed tugs will provide harbor tug services for LNG vessels calling at the Freeport LNG terminal which is currently under construction in the Port of Freeport, Texas.
G&H Towing Company of Galveston, Texas will operate the two tugboats.
Johnny Conrad, President and CEO, stated, "We are excited to add Bay- Houston and Suderman & Young as customers. These two new contracts are scheduled to be constructed at our Orange Shipbuilding facility which has constructed sixty-five tugs and towboats since 1974. With these additions, our current backlog is at a record high of approximately $93 million."