July 17, 2008
Todd Shipyards to rebuild fish processor vessel
Todd Shipyards Corporation (NYSE:TOD) says that its wholly owned subsidiary, Todd Pacific Shipyards Corporation has been awarded a contract from Glacier Fish Company of Seattle, Washington for the rebuild of the fish processor, F/V Pacific Glacier which suffered significant damage in an onboard fire in February 2008.
Glacier Fish Company selected Todd based on a best value determination and its assessment of Todd’s ability to help it meet its requirements for the 2009 Schedule A fishing season.
The contract will commence immediately and will include work on all areas damaged by the fire. This includes deck coverings, linings, furniture, equipment, piping, ventilation, electrical and electronic navigation, communication, and control systems.
The completion schedule will be determined as design is completed and work scope is detailed. Removal of all fire damaged material and debris, and repair of structural steel damage caused by the fire has been accomplished by Todd under separate previously awarded contracts.
The final contract price is expected to be in excess of $10 million.