June 16, 2008
Todd Pacific gets icebreaker contract
Todd Shipyards Corporation (NYSE:TOD) says that the U.S. Coast Guard has awarded Todd Pacific Shipyards Corporation a $6,340,256 modification to previously awarded contract HSCG85-04-C-625509 in support of repairs and alterations performed during the Planned Maintenance Availability ("PMA") of the icebreaker USCG Polar Sea (WAGB-11).
The contract modification provides for the alteration and repair of shipÕs systems, engines and shipboard equipment. The work will be accomplished at Todd PacificÕs shipyard in Seattle beginning immediately and is expected to be completed in September 2008.
The PMA of the Polar Sea is being performed under the companyÕs five-year Multi-Ship Multi-Option ("MSMO") contract with the Coast Guard for the overhaul and continued maintenance of the two Polar Class Icebreakers stationed at Seattle, Washington. The cost-type contract was awarded to Todd Pacific in 2004.