Todd gets mod to Coast Guard icebreaker overhaul contract

Todd Shipyards Corporation (NYSE:TOD) reports that the U.S. Coast Guard has awarded its  Todd Pacific Shipyards Corporation subsidiary a $4,883,691 modification to previously awarded contract HSCG85-11-C-P45631 in support of repairs and alterations being performed during the dockside maintenance availability of the icebreaker USCGC Healy (WAGB-20). The contract modification provides for the alteration and repair of ship’s systems, engines and shipboard equipment. The work will be accomplished at the Coast Guard Base, Integrated Support Command, located at Pier 36 in Seattle, beginning immediately and is expected to be complete in April 2011.

The dockside availability of the USCGC Healy is being performed under the company’s five-year Multi-Year Multi-Option contract with the Coast Guard for the overhaul and continued maintenance of the Healy Class Icebreaker stationed at Seattle, Washington. The Firm Fixed-Price supply contract was awarded to Todd Pacific in November 2010 and this option award represents the first availability of the contract.

January 20, 2011