October 27, 2008
Todd Pacific gets $3.9 million USCG award
Todd Shipyards Corporation (NYSE:TOD) says the U.S. Coast Guard has awarded Todd Pacific Shipyards Corporation a $3,904,856 modification to a previously awarded contract for repairs and alterations performed during the Planned Maintenance Availability of the icebreaker USCGC Healy (WAGB-20). The modification provides for the alteration and repair on the ship's main propulsion system, auxiliary systems and many other structural, mechanical and electrical features. The work will be accomplished at the vessel's home port, Seattle, beginning immediately and is expected to be completed in January 2009.
The PMA of the USCGC Healy is being performed under Todd's five-year Multi-Ship Multi-Option ("MSMO") contract with the Coast Guard for the overhaul and continued maintenance of the vessel stationed. The negotiated best value procurement contract was awarded to Todd Pacific in 2005.